Word: programing
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Dates: during 1940-1949
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Could anything be done about it? Something could be; but probably nothing would be. Republicans were determined to sit tight while accusing the President of failing to use the anti-inflation powers he already had. The President's own program was a far cry from his fighting speech in Philadelphia. In the frigid atmosphere of Capitol Hill, his subdued tones and cautious suggestions were like the speech of a small boy who is ordered to repeat in court the bold words he had used in the alley...
...President's program, in effect, was: let's have a little deflation and keep quite a bit of inflation. He wanted to control prices without attacking the causes of high prices...
Hardly Trying. As the Southerners kept Senate business at a standstill, Senate and House committees listened coldly to the Administration's explanations of Harry Truman's anti-inflation program. Ex-OPAdministrator Paul Porter, who had been re-enlisted by the White House fortnight ago, was the chief performer before the House Banking and Currency Committee. His main point: roll back prices to November 1947 levels on such items as meat, dairy products, clothing, steel...
...Chairman Marriner Eccles. He agreed that the Administration's plan for increasing bank reserves was one way to check inflationary credit. It was a scheme which he had suggested himself last fall and which the President had then ignored. As for the rest of the President's program, such proposals as the long-range housing program would only force inflationary pressures even higher. Said Eccles: "It's like try ing to fill up the bathtub with the stopper...
...only "anti-inflation" bills with any chance of passage were those to control consumer credit and to tighten up bank loans. Congress might also approve the $65 million building loan for U.N., and remove the discriminatory provisions from the D.P. bill. The rest of the President's program had no more chance than a snowball in summer Washington...