Word: johnson
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Dates: during 1960-1969
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...asked. "Madam," offered the Secret Service man, "this is the Vice President." "Of what?" countered the lady. "Mother," whispered the daughter, "that's the man we voted for in the election." Mother peered more closely. "Nonsense," she said. "You don't look a bit like Lyndon Johnson...
...were unwilling to raise taxes to slow inflation and narrow federal budget deficits, the board did the job by restricting money. Then Martin calmly absorbed the resulting criticism, most notably after the "credit crunch" of 1966. To blame the Federal Reserve for that, says Arthur Okun, who was Lyndon Johnson's chief economist, is "like scolding a driver who just avoided hitting a jaywalking child because he stopped short with four feet to spare...
...others, he feels that the board would do better to pay more attention to developing long-term policies for steady economic growth. McCracken would also like to see the Reserve coordinate its policy more closely with the White House. He would probably not go as far as some former Johnson economists, who argue that the President should have something like veto power over the Federal Reserve's monetary moves. "If you can trust the President of the U.S with the atomic bomb," argues a Johnson Administration official, "why can't you trust him with money...
...TRAGEDY OF LYNDON JOHNSON, by Eric F. Goldman. 531 pages. Knopf...
...historians as personal aides, partly in the hope that they will be written up lovingly. Sometimes they are-witness Arthur Schlesinger's study of John F. Kennedy. And sometimes the joke is on the Chief Executive. Eric Goldman's bestselling memoir of White House life with Lyndon Johnson emphatically belongs in the latter category...