Word: mattersâ
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...argues that its new system will enable it to keep a day-to-day eye on what really matters???the money supply?and to feed just enough new cash and credit into the economy to prevent a crunch. Yet something very much like a credit crunch may be the only thing that can break the nation's addiction to easy money. The inflation psychology of spending to beat price rises is becoming a part of the national psyche...
What the explanations really illustrate is a continuing erosion of worldwide confidence in the U.S.'s ability to manage its economy. In just about every area that matters???inflation, productivity, investment, economic growth?the performance has been deteriorating, and last week provided still further evidence. Almost from the moment that inflation once again hit double digits in April, the Administration has been blaming the rise on food prices and promising that the climb would soon abate. Some food prices have begun to subside, though the Labor Department's June inflation rate showed that for the third month...
...take positions that will play well in their districts. With elections coming up in November, a lot of members will be more cautious this session, particularly since there is no national consensus on many key issues. Experts forecast only a moderately productive session, with a number of important matters???among them, national health insurance and reform of the tax and welfare systems?postponed in a rush to adjourn by Oct. 1 so that legislators can concentrate on campaigning. Says House Republican Leader John Rhodes of Arizona: "Nobody wants to get into those morasses this year. If we don't adjourn...
...dissemble within more or less accepted political limits. His Administration may be touched by corruption, provided that he does not condone it. He may make mistakes, many of them. He may fight the other branches of Government, for this is sometimes necessary to get things done. None of these matters???especially since they are always subject to partisan interpretation?are sufficient in themselves to justify the removal of a President...
...Nixon camp's ho-?es that the platform carpentered by Chuck Percy would satisfy Nelson Rockefeller got a bruising jolt toward wask's end. ''The Governor," announced Rockefeller Press Secretary Robert L. McManus, "is deeply concerned that the drafts on a number of matters???including national defense, foreign policy and some critical domestic issues?are still seriously lacking in strength and specifics." Clearly implied was a floor fight that might scar the G.O.P. and furnish invaluable ammunition for the Democrats...