Word: stretch-out
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Spaatz was just as concerned by the Administration's defense policy today-specifically, its decision last winter to stretch out the mobilization program, delaying achievement of the Air Force's goal of 143 wings from 1954 to 1956. In dollars alone, said Spaatz, the stretch-out was a $2 billion mistake. As "gambling with our security," it was "an inexcusable risk . . . Time is running out as far as we are concerned . . . We have not faced the fact that Russia is acquiring a stockpile of H-and A-bombs. Ruthless as they are, when they have that stockpile they...
...decision flew in the face of some hard military facts. According to the best intelligence estimates in Washington, the date of maximum danger of Russian attack, when Soviet air power will be strong enough to deal a decisive blow to U.S. industry, is mid-1954. The Administration's "stretch-out" of the defense program has already delayed the date of minimum U.S. preparedness well beyond mid-1954. If the Senate allows the spending ceiling to stand, the date will be put off still further-at incalculable peril to the security of the nation...
...even fully replacing its aircraft losses in Korea, Pratt & Whitney last week let out an amazing fact. The big enginemaker said it was starting to cut production workers back from a 48-hour to 44-and 40-hour weeks. Reason: the Pentagon had suggested it because of the stretch...
...stretch-out in the arms program began to look like a yawn-out. The military, which had been placing orders at a $5-billion-a-month clip last October and had planned to settle down to $4 billion a month, was now issuing contracts for only $2.8 billion a month. Actual deliveries of military goods, instead of increasing, were running at a rate of only $2 billion a month, unchanged since last September. Furthermore, though the U.S. was expected to run a deficit of $14 billion this fiscal year, it was temporarily running a cash surplus-another deflationary factor...
...that rearmament's tightest pinch on civilian production would come in 1952's second quarter. But last week, when the Defense Production Administration allocated the quarter's supplies of metals, manufacturers learned that the pinch will not be as tight as they had feared. Reason: the "stretch-out"in the arms program enabled DPA to reduce the additional 10% cut in metals which had been scheduled. Instead, steel will not be cut at all; copper and aluminum will be cut only 5% on the average. And even "less essential" producers (aluminum blinds, cigarette lighters, etc.) will...