Word: pepfully
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President Kennedy decided weeks ago that a quick tax cut was needed to pep up the sluggish U.S. economy. Most of his economists, including Walter Heller, chairman of the Council of Economic Advisers, urged him to call for a cut. Yet last week, when he appeared on national television to explain his policy, Kennedy came out not with a tax-cut proposal, but rather with a statement that emergency tax legislation "could not now be either justified or enacted...
...issue before Capitol Hill committees. When the various statements and opinions were compared side by side, they did not seem to agree with one another, but then they did not really seem to disagree either. New York's Republican Senator Jacob Javits, who favors a cut now to pep up the economy, hooted that the President has shown "agonizing indecisiveness...
...occasion for Republican hurrahs. In 17 cities across the U.S., party loyalists were gathered at fund-raising dinners to hear pep talks, over closed-circuit TV, about this fall's congressional elections. Dwight Eisenhower, speaking from Los Angeles, was interrupted repeatedly by loud applause. Senator Barry Goldwater drew a spirited response. So did National Committee Chairman William Miller. Then the voice and figure of New York's Governor Nelson Aldrich Rockefeller confronted the diners. And at every single meeting, from Boston to Tulsa. Rocky was ignominiously booed...
Also considered, and rejected at the forceful urging of Dillon, was an emergency tax cut to pep up the economy. Dillon argued that the economy does not really need any special pepping up, and a special tax cut for morale reasons would interfere with the plans for basic tax revision later on. Still another possibility was to speed up federal spending for public works and defense orders. But it was decided that such a step-up would not have swift enough effect to shore up the stock market. In short, the sense of the meeting was that for the moment...
...mostly on drink and pills. A trifle defensively, Williams puts his intake of liquor at half of a fifth a day. "It's more like half a fifth of bourbon and half a fifth of vodka," says a friend. Williams at times takes half a Dexamyl to "pep up," 1½ Seconals a day "to smooth things over," and two Miltowns with Scotch to go to sleep...