Word: congressmen
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Dates: during 1970-1979
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...expected to settle on a bill by midweek, followed the next week by its counterpart in the House. Both chambers seemed likely to accept a plan that would guarantee state loans to keep New York afloat while it constricts its payroll and services to balance its budget by 1978. Congressmen are reluctant to help, but more and more of them feel that there is no alternative. Explained House Majority Leader Thomas ("Tip") O'Neill: "We can't let the financial capital of the world go down...
...Federal Reserve must become more liberal than it has been lately in order to achieve even that modest goal. Such a policy will not mollify Burns' numerous and vehement critics, who judge a faster increase necessary to meet the needs of a growing economy. Recently, for instance, some Congressmen accused Burns of trying in effect to repeal the tax cuts legislated by Congress this year, by increasing the money supply so slowly as to cancel out their expansionary impact. If the Federal Reserve at least puts out enough money to keep interest rates stable, it will ease...
That same day he took part in the kind of event that is better suited to Congressmen than Presidents. As the honorary grand marshal, Ford rode in the Mountain State Festival parade in Elkins, W. Va. (pop. 8,287). Three times along the parade route Ford could not resist the urge to leave his limousine and pump hands. The President's good friends as well as his critics might fairly ask whether right now Jerry Ford should take part in a festival, no matter how entertaining it might...
Congress is an unreal world-and getting more so. Talk there is cheap and wild and it is rarely accountable. Senators and Congressmen do not have to carry out their decisions, do not have to make the Government work. They walk away from responsibility after they cast their votes...
...drive to cut taxes in 1976 is be coming an irresistible force that not even a presidential veto could stop. At minimum, Congressmen facing re-election campaigns at a time when unemployment will still be high are certain to extend the $8 billion reduction in taxes on corporate and personal income enacted for 1975. All 20 members of Congress's Joint Economic Committee-liberal Democrats and conservative Republicans alike-have endorsed the idea; a tax-reform bill is due out of the House Ways and Means Committee by Oct. 28. Last week even President Ford apparently climbed aboard...