Word: shultz
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Dates: during 1970-1979
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...long period in his first Administration, President Nixon's economic policies were summed up in a phrase popularized by Treasury Secretary George Shultz: "Steady as she goes." The words implied a commitment to going along with old policies and resisting sharp or contentious change. There are no better words than those to describe the fiscal 1975 budget that Nixon sent to Congress this week...
...statistics that oil executives were not at all reluctant to disclose last week. Largely as a result of the Arab oil embargo, imports of crude into the U.S. declined by 10% from the week before, and are now running 22% behind the early autumn. Treasury Secretary George Shultz last week said that Middle East troop disengagement (see THE WORLD) would lead to a relaxation of that embargo; but he did not predict when. Saudi officials have declared that they would keep it clamped on until the Israelis agreed to a complete pullback behind 1967 borders. Simon expects that if there...
...billion more for imported oil in 1974 than they did last year. Thus, instead of running up a combined trade surplus of $15 billion, as expected before the oil emergency, these nations could have a trade deficit of $20 billion to $25 billion. U.S. officials, including Treasury Secretary George Shultz, believe that the current sky-high prices will exact such a toll on the world economy that "something has to give." Shultz last week urged the oil-producing nations to cooperate with the rest of the world in reducing prices and "scaling down the magnitude of the financial problem...
...energy czar has a quick temper, and aides dread being chewed out by him. But the storms almost always blow over and are swiftly forgotten. Simon has a sense of humor, too. When his patron Shultz once angrily told the press that White House Aide Melvin Laird should "keep his cotton-picking hands" off tax matters, Simon sent Laird a pair of white gloves...
Certainly Simon's free-market approach reflects Shultz's philosophy. But unlike the sometimes pedantic and doctrinaire Shultz, Simon has shown a refreshing tendency to change his mind in response to argument. Shultz fought to the end against even considering gasoline rationing. Simon has drawn up a comprehensive rationing plan, and insists that he will order it into effect if necessary-and if Congress gives him authority...