Word: indexed
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Dates: during 1970-1979
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...necessarily arguments for President Ford's flawed program to raise tariffs and taxes. By greatly increasing the price of all oil products (gasoline and fuel oil would go up about 10? per gal.), it would add at least two percentage points to the cost of living index. Furthermore, U.S. producers of petro chemicals, synthetic textiles and other products that derive from oil would be at a great disadvantage in world markets because their foreign competitors would be using cheaper oil. Grave questions exist over whether enough energy would be saved to justify these high costs...
...fuel bills could force up airline fares and freight rates. The greater bills for heating and lighting factories and buying electricity to run machinery could drive up the cost of almost every product. Even wage costs could be raised; many union contracts tie wages partly to the consumer price index, which will be kicked up by the fuel increases...
...pumping still more money into the economy. Ford in his State of the Union speech vowed to veto any new federal spending programs that Congress might enact. But spending on several costly programs, including military pensions and Social Security payments, is tied to the movements of the consumer price index. Those outlays will rise automatically, well beyond the 5% limit that Ford proposes, unless Congress actively votes to hold them down, and there are few things that a liberal Democratic Congress would be less likely...
...case, Ford's program would raise prices quite enough to cause severe pain?and danger for the economy ?no matter what OPEC does. The White House itself estimates that the price boosts caused by its energy taxes would raise the overall consumer price index by two percentage points this year. And that estimate appears to assume that the increases will total only $30 billion. In fact, they could go much higher...
...Replies. Rooney visits the General Services Administration to ask for a list of Government-owned buildings in Washington; GSA demands $150 for the index. He attends a ceremony honoring Government workers for cutting down on paper but begins to realize that the occasion has generated reams of memorandums and press releases...