Word: nathanisms
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...granted Harvard the rights to the land conditional that the complex or at least the library be built there also. Harvard stands to lose a valuable parcel if the Kennedy corporation decides to uproot the complex. It was only a little less than 20 years ago the former President Nathan M. Pusey '28 tried and failed to buy the land from Penn Central as a first choice for the site of Mather House...
...stressing the need for a much more expansive program, Nathan points to the budget's projections for the so-called full-employment surplus. That is a significant figure designed to show what the budget would be if unemployment were only 4% and the economy were operating at optimum capacity...
Thus it can serve as a guide as to how much stimulus might be needed to spur a sluggish economy. The greater the budget surplus is by this measurement, the more the economy is reined in and deflated. Yet, notes Nathan, while the jobless rate will continue to hover at unacceptably high rates, the Administration estimates that the full-employment surpluses will be large and sharply rising: $12 billion in fiscal 1976, $29 billion in 1977, $33 billion in 1978, $45 billion in 1979, $61 billion...
Though these figures cannot be assumed to be irrevocable forecasts, they do chart the general direction of Administration policy for the next year or so. Says Nathan: "Clearly that is a very restrictive fiscal policy-and it does little to slow down inflation. Yet that is the price the Administration seems willing to pay for rather modest results...
...poor. But the swift approval that the House and Senate gave to bills blocking the food stamp proposal last week suggests that many of Ford's reductions will be rejected. Pechman reckons that the most Ford can expect is to cut spending by about $4 billion. In addition, Nathan sees Congress increasing spending for public employment, energy research and mass transit...