Word: congresses
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Dates: during 1970-1970
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...economic problems. Heath stressed that Britain's role in Europe, through its proposed entry into the Common Market, could only benefit what he called the "natural relationship" between the U.S. and Britain, as well as "the Atlantic Alliance and the whole Free World." He indicated concern with Congress's inclination toward protectionist trade policies that could cut by 20% Britain's annual $2.2 billion in exports to the U.S. The two heads of government also issued a joint statement calling for the resumption of the Jarring Arab-Israeli talks. And they conferred about this week...
...bathrobe at a West Point preview, Funnyman Bob Hope, 67, put his show on the G.I. road for the 20th Christmas season. Hope's send-off included a Christmas supercard signed by President Nixon, Vice President Agnew, the Governors of the 50 states and all the members of Congress. He also got a holiday shopping assignment: he's to "buy the boys soft drinks" with a check for $8,000 from the Women's Christian Temperance Union. With an 87-member troupe including Actress Ursula Andress, Cincinnati Reds Catcher Johnny Bench, and Miss World Jennifer Hosten, Hope...
...negotiated in the first nine months of 1970 called for annual increases averaging 10%. In a modern form of highway robbery, the militant Teamsters imposed a 15% increase, thus setting a target for the rest of organized labor. To head off what could have been a nation-paralyzing strike, Congress voted to give a boost of 13½% to some 350,000 railway workers. Wage-push inflation got its strongest nudge in construction; union craftsmen wrung out raises averaging 17½%. As a result, many skilled workers will be earning about $20,000 a year by 1972. Building...
...back to work is to put more money into the economy. That can be done by expanding the budget deficit or increasing the money supply, or by using a combination of both. In either case the President's power is limited. He can increase the budget only if Congress agrees, and he may well run into resistance from Capitol Hill's fiscal conservatives, as well as from Democratic liberals who are not at all eager to help his re-election drive. One possibility is that Nixon will offer only token opposition to spending bills that he dislikes...
...Matter of Mood. Even if more money pours forth from Congress or the Federal Reserve, the big question is how much jittery consumers will spend. "The consumer is the key to 1971," says Harvard's Otto Eckstein, reflecting the overall view of TIME'S Board of Economists. "If retailing does not do very well next year, nothing else will...