Word: vietnamize
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Dates: during 1960-1969
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LAST week was not a happy one for Lyndon Johnson. It was a time of reckoning for his Vietnam policy, politically in New Hampshire, economically in the London gold pool and on Wall Street. The economy has been distorted and the balance-of-payments deficit exacerbated by the war effort. The Administration can no longer hope to disguise or postpone these problems; it must come to terms with them now, and the terms are bitter...
Still, the U.S. economy will be comparatively untouched by a reduction in international trade; exports comprise only three per cent of the GNP. The developing nations, some of whom rely on exports for seventy per cent of GNP, will be hit hardest. Vietnam will no longer be the only developing nation paying for the war; by impeding international trade we will have managed to increase the cost so that other nations might share...
...FIRST U.S. Sen. Albert Gore (D-Tenn.) seems too jovial and soft-spoken to be one of the heroes in the Senate debate on Vietnam. But since December, 1964, Gore has been unyielding in his vigorous opposition...
After the Foreign Relations Committee's hearings on Vietnam in February, 1966, Gore told his colleagues that their committee could not change Administration policy unless it went "over the President's head to the people." He followed his own advice, and now, he notes with obvious pride, "I'm probably on the lceture circuit to colleges more than any other member of the U.S. Senate...
Gore's seat on the Finance Committee keeps him close to the gold crisis and the President's fiscal policies, and he uses the opportunity to attack the war from another angle. Vietnam has created a "crisis of confidence in American leadership," Gore says, and the Administration's two-price gold system is "just another temporary palliative" in response to this fundamental problem. He supports the tax increase, though he thinks more severe measures are needed. But the ultimate answer, he says, is that "we must...