Word: hellers
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Harrington helped to make it so. His book, The Other America: Poverty in the U.S., has sold 70,000 hard-cover and paperback copies. It impressed Jack Kennedy, who used the Harrington phrase "the invisible poor" in his speeches. Presidential Economic Adviser Walter Heller is thoroughly familiar with Harrington's thin, 191-page volume; when Heller told Johnson that he had been assigned by Kennedy to draw up an anti-poverty program, Lyndon agreed that it was a good idea. It is especially a good idea for politicians in an election year too. Only last week the President named...
...analysis from the President's Council of Economic Advisers, noted other historic firsts recorded in those three years: average earnings in manufacturing topped $100 a week; after-tax income of individuals exceeded $400 billion in 1963; corporate profits before taxes passed $50 billion last year. CEA Chairman Walter Heller's analysis claimed that by spring this advance will be "the second-longest peacetime expansion of this century-exceeded only by the prolonged climb out of the depths of the Great Depression." This "remarkable performance," he said, "clearly shows the vitality of the private economy in an environment...
...banks of the Pedernales River from Washington went Dr. Walter Heller, chairman of the President's Council of Economic Advisers, to tell Johnson that during 1963 the U.S. economy had set impressive records. Among them: the gross national product (the combined total of all U.S. goods and services) rose $30 billion, to over $600 billion; per capita personal income reached $2,500, up $300 in three years; U.S. corporate profits totaled more than $50 billion ($25 billion after taxes), and civilian employment went above 70 million for the first time. Heller also was the bearer of not-so-glad...
Though many businessmen were at first indifferent to Walter Heller's tax cut, most now seem to favor it. "Being against the tax cut is like being against motherhood," says Edwin D. Campbell, executive vice president of Massachusetts' Itek Corp. The Government estimates that a cut would give consumers an extra $5.9 billion to spend next year. Though that may not amount to much for each household-$2.30 a week for a married man with a $6,000 taxable income-economists calculate that the "multiplier effect" would give a substantial boost to the economy. About...
...Heller continues to have his say, President Johnson's basic concern will be over how the U.S. economy can quicken its growth. The conventional answer is that more exciting new products must be found to spark consumer demand and to start up new industries. In the opinion of Simon Ramo, vice chairman of space-age Thompson Ramo Wooldridge, "we do not have that kind of rapid, exciting growth in new products for civilian use that our scientific base would lead us to expect...