Word: crediters
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Dates: during 1960-1969
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...what it means to many Americans," protested the President, but he denied that the increase had put the economy "in danger of recession or depression." Rather, said Johnson, "the tightness of money reflects the buoyancy of our economy and the resulting very sharp rise in the demand for credit. These are symptoms of strength, not weakness...
Overheating Again. Nonetheless, the credit squeeze has reached such proportions that it is itself becoming a major economic problem. It has hit hard at the housing industry, now in its worst slump in several years, at the small businessman and at the average consumer, who is paying more for every item he buys on time. Interest rates on personal loans and auto payments are running as high as 12% a year, and even some big corporations are paying 10% for 10-year money. In many places it now costs home buyers $12 a month more than last year to float...
...believes that such a hike would hurt Democrats in the coming elections and partly because he feels that asking for it now would give Republicans an excuse to gut some of his Great Society programs. Instead, the President will probably call for a temporary suspension of the 7% investment credit to business, a move that would cool off the record expansion in plant and equipment spending...
...that he virtually single handed held up a much-wanted tax cut during the Kennedy Administration. Chairman Mills has bluntly told the White House that he will do his best to block any congressional action on taxation this year, and that he rejects the elimination of the 7% investment credit in particular as being too little and too late...
Carli is still not satisfied; he wants the government to cut back further in its spending, argues that wage and price increases ought to be tied more closely to productivity. Even so, he deserves credit for the fact that the talk nowadays is not about devaluing the lira but rather of revaluing it upward...