Word: limits
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Dates: during 1970-1979
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...would be to enhance job opportunities, preferably on a continuing basis-and not just a quick, temporary, or transient effort toward employment. There are several job programs already evolved by Commerce, and the Administration structures are in place. They would be immediately available for expansion. There's a limit on what we can do in the job-enhancement area. Whatever we can't do in stimulating jobs I would make up with some form of tax reduction. I don't know yet the full level of economic stimulus to recommend. Perhaps I'll decide before January...
Several thorny problems await her at Commerce. She will be responsible for smoothing out problems that develop when the U.S. extends the twelve-mile fishing limit to 200 miles on March 1. There is also the question of legislation to deal with the Arab boycott of U.S. firms doing business with Israel. She must manage $2 billion in current public works spending, an amount that could grow with new economic stimulus. Finally, Kreps must look after the heavily subsidized but still sickly U.S. maritime fleet...
Responding to continuing cries from the West, the Japanese were already taking some steps to reduce their trade surplus before the latest dustup. For instance, in 1977 as in '76, Tokyo will limit steel exports to the Community to 1.4 million tons. But at Common Market headquarters in Brussels, these steps have been viewed as too little, too late. In November, over lunch in Brussels, European Commissioner Finn Olav Gundelach warned Japanese Deputy Foreign Minister Bunroku Yoshino that Japan would have to submit a comprehensive plan to right the trade imbalance or face retaliation. The Europeans, for example, could...
Diplomacy will also loom large in handling the nation's vastly increased offshore area. Last April, the U.S. proclaimed a 200-mile limit in line with the intentions of the European Community and Canada. Differences remain to be ironed out with Russian and Japanese fishermen, who traditionally have prowled just beyond the old twelve-mile boundary. Interior will also be called on to regulate the rush of corporations to conduct possibly polluting searches for oil and minerals...
...further 5% next July 1. But the Saudis, backed by the United Arab Emirates, announced that they would post only a 5% increase for the whole year. Moreover, Saudi Oil Minister Ahmed Zaki Yamani declared that Saudi Arabia would lift its self-imposed production limit of 8.5 million bbl. a day and pump out as much oil as the world market would take (the country can now produce 11.8 million bbl. daily). That was a clear attempt to undermine the higher prices decreed by its OPEC partners, and the cocky Sheik Yamani told Western newsmen, "I don't believe...