Word: inflationitis
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Dates: during 1960-1969
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What gave Nixon his confidence was the decision by the House Ways and Means Committee to report out the bill exactly as he had requested-extending the surtax at its present 10% rate for six months and continuing it for another half-year at 5%. The bill also eliminates the...
Outmaneuvered Opposition. The committee's approval caught the surtax's opponents by surprise. Some conservatives who oppose high taxation and spending were disarmed by the bill's bipartisan support and by the nation's growing concern about inflation. Liberals, who proposed to support the bill only...
Such confidence is justified. Inflation has reached the point where many Congressmen feel that a vote against the President will be tantamount to a vote for higher prices and interest rates. Says Mills: "The House rises and discharges its responsibilities when it has to, and this is an emergency."
Cutting Inflation. Rocky knew this, of course, as he was hustled off to the National Palace to be briefed on the Brazilian regime's achievements. Costa e Silva pointed proudly to his government's success in cutting inflation to a mere 22% annually (down from 90% in 1964...
Given the near-total economic chaos left behind by Sukarno, improvement is bound to be slow. Still, in the 2½ years since President Suharto's government began its stabilization program, real progress has been made. At the moment, says a senior Western diplomat with long experience in Indonesia...