Word: projectsâ
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...huge budget deficits and punishing inflation. In an attempt to curb that inflation, the Government created the recession of 1970 and imposed the wage-price controls. More than that, the high cost of Viet Nam forced the nation to put off spending for many badly needed domestic projects???schools, hospitals, sewage plants and mass-transit systems...
...businessmen operating at far less than capacity and frequently at low profit are in a much less advantageous position to spend than are the nation's savings-flushed consumers. Moreover, the President may well have trouble persuading Congress to avoid allocating the funds from his budget cuts to other projects???and thus re-extend the danger of high deficit spending. On balance, however, the plan has a good chance of success, if only because, as Economist David Grove says, the President has finally told an apprehensive nation: "Yes, folks, the Government will do something...
...young Carroll, the second of four sons in a proper Philadelphia family, went on from the University of Pennsylvania to take a law degree at Dickinson School of Law and work for a year in a large Philadelphia firm. When he found law incompatible, he turned to civic projects???the Robin Hood Dell concerts, the Philadelphia Grand Opera Company?and when the Depression struck, helped feed, clothe and house Philadelphia's unemployed. Under Miss Adams' influence Carroll had been trying his hand at horoscopes, and now he began to do them for the unemployed. He was impressed, he says...
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