Word: herbert
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...deficit will, ultimately, weaken the economy. Liberal economists say that spending cuts and increased taxes in the present state of the economy would only exacerbate recessionary tendencies. Robert Eisner, president-elect of the American Economic Association, says that budget cutting would be a "mindless throwback to the economics of Herbert Hoover...
...James Baker and Howard Baker prod Reagan in a series of White House meetings to work toward a market-calming budget compromise. They prep him for his critical 8 p.m. press conference. The President is advised to walk a delicate line: exude confidence about the economy without sounding like Herbert Hoover...
...important for the President to be seen to be in charge, to be leading and taking action. He also needed not to be seen as another Herbert Hoover. He couldn't say, "Don't worry, everything's O.K." But at the same time he needed to be reassuring, and that's not an easy line to walk...
Also as usual, the portents went largely ignored. People yearned to believe what the authorities told them. Calvin Coolidge, on turning over the White House to Herbert Hoover earlier that year, had pronounced the U.S. economy "absolutely sound." Charles E. Mitchell, chairman of the National City Bank of New York, echoed the former President in early October by declaring that the "industrial situation of the U.S. is absolutely sound, and our credit situation is in no way critical...
...broadcast monitored in San Salvador, the rebels' clandestine Radio Venceremos said it will call for the travel ban later in the week--they did not name a date--in response to the fatal shooting Monday of Herbert Ernesto Anaya, the commission president...