Word: nixon
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Dates: during 1960-1969
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Computerized Job Bank. As a policy adviser, Burns' record is uneven. He opposed repeal of the 7% investment tax credit-and lost. He won on another question by persuading the Administration to come out against taxing the interest on state and municipal bonds. He sold Nixon on the idea of a computerized job bank that would list jobs offered by employers all over the country to aid in placement of the unemployed. On the other hand, the President sent to Congress a billion-dollar program to combat hunger, despite Burns' strenuous objections that it was unnecessary and cost...
...head of the council, he also made a lasting impression on the Vice President, Richard Nixon. Burns left in 1956 to become president of the privately endowed National Bureau of Economic Research, but continued as Nixon's personal economic adviser. Last winter, just before being named Special Counsellor to the President, he suggested that the tax increases and spending cuts then contemplated would not be enough to contain inflation. Once ensconced in the White House, he optimistically judged in April that it would be reasonable to expect the Administration to bring the rate of inflation down...
...crucial matter of handling the economy, Nixon has been following Burns' advice. They are in agreement: the pressures that are being applied are right, and results will come if the Government stays on its course. Because Burns is reluctant to change his mind once he has made it up, he could stay on that course too long. Burns will unquestionably continue to have Nixon's ear. But there is some doubt in Washington about what will happen when the President decides that the time has come to switch from anti-inflation to antirecession policies-and quietly calls...
...material way, investors expressed a yearning for peace, and a belief that peace would be bullish. They bought stock in close to record amounts and sent the market to its sharpest gains in months. Prices spurted early in the week on hopes that the Moratorium demonstrations would compel the Nixon Administration to take some action that might further scale down the war. Stocks paused at midweek as investors took profits, but climbed again on news of the Communist offer of direct talks between the U.S. and the Viet Cong. Prices tapered after the U.S. rejected the offer...
...This week President Nixon plans to explain in a policy statement how he proposes to keep a campaign promise to raise the tonnage of U.S. trade carried in American ships from the present 6% to 30% by the mid-1970s. Maritime Administrator Andrew E. Gibson said last week that the Nixon program would support the building of new ships "designed for production, not as works of art." Though Gibson agreed with the proposition that efficient ships can compete internationally without an operating subsidy, he admitted that the end of Government aid was far away. Last year the Government spent...