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Simon's new 13-member board includes eight other Cabinet members, plus Ash, Council of Economic Advisers Chairman Alan Greenspan, William Eberle of the Council on International Economic Policy, and Ford Aide L. William Seidman. A millionaire accounting executive and Ford adviser from Grand Rapids, Seidman holds two vaguely defined but key positions. Ford made him executive director of Simon's board as well as his own chief White House economic coordinator. While the board may prove to be useful in coordinating policy, it could well be too large for effective decision making...
Warm words, but the honeymoon between Ford and his political opponents is already showing its first signs of strain. Last week Presidential Aide L. William Seidman announced that because Congress would not have time to pass on any major new policy initiatives this year, "real action" on the economy would have to wait until 1975. The Senate Democratic caucus, obviously unwilling to give up the party's most promising issue for the November congressional elections, wasted no time in replying that speedier action was needed. The Democrats pledged to keep Congress in session for the rest of the year...
...rent increase from $84 to $92 on Seidman's one-room apartment in sunny but seedy East Hollywood almost totally negated the latest increase in his $230-a-month Social Security check. Climbing costs have purged cottage cheese from his meatless diet (he suffers from a cardiovascular disorder and subsists on nuts, grains, fruits and beans). Despite Medicare, Seidman has had to dip into his savings to cover medical bills. He recently paid $700 for dental work and $140 for a pair of special orthopedic shoes, and fears that he will have to make another withdrawal to cover some...
SOCIAL INSECURITY. David Seidman, 68, once looked forward to a comfortable retirement. He had worked 20 years as a cloth cutter in Los Angeles, earning $160 a week when he left and had invested $8,000 in a savings and loan. But inflation has robbed Seidman of his dreams. "I am now living on social insecurity and a little interest from my savings," he says bitterly. "If I had not had that I would have died...
Those provisions are enough to make the act "landmark legislation" in the view of Bertran Seidman, Social Security director of the AFL-CIO. But the law does not go far enough to please many advocates of pension reform. No employer would be required to set up a pension plan. Many blue-collar workers take their first jobs at 16 but would not have to be included in pension plans until they are 25 (though they must then be given credit for three years' vesting). Karen W. Ferguson, a Washington attorney and ally of Ralph Nader, complains that not requiring...