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Washington Antipoverty officials have apparently decided to cripple one of their most effective programs in Cambridge. Despite appeals from administrators at the School of Education, they have refused a request from Harvard's Upward Bound program for an additional $60,000 in funds. The program, which is designed to open educational opportunities and incentives for high school students, planned to use the budget increase to serve another 25 young people--a 25 per cent increase in enrollment. Officials believed that this increase was essential to raise the program's operations above a mere subsistence level...
Days Off. Behind the threat of recession lies the reality of inflation. For years, West Germany's unchecked economic boom resulted in a spending spree on the part of consumers and government that kept prices moving steeply upward. To make sure that it could keep pace with demand, German industry hoarded workers, thus aggravating the already acute labor shortage...
...that inflation occurs when prices rise 2% a year or more, which often happens when times are good, money is easy, and too many dollars chase too few goods. At such times, manufacturers borrow heavily to increase production and work forces, and output jumps unnaturally high. Prices climb ever upward. Unless the Government acts quickly and wisely to restore stability, a day of reckoning comes sooner or later. Demand drops to normal levels - perhaps because consumers become surfeited with goods or are unwilling to pay inflated prices. When demand falls, production slides, workers are laid off, and a recession begins...
RICHARD E. HAMMOND: Varsity soccer, captain; Gilbert and Sullivan, H.M.S.. Pinafore, The Mikado; Hasty Pudding Theatricals, Right Up Your Alley; Harvard Policy Committee; Rugby; Cheerleading; Combined Charities; Upward Bound Tutor; Owl Club...
...months since President Johnson announced the U.S. military buildup for Viet Nam, draft calls have inched steadily upward. Last month's total - 49,300 - was the highest since early 1951, the peak mobilization period of the Korean War, when 80,000 men a month were called. The effect has been to deplete the nation's 1-A manpower pool to the point at which Selective Service headquarters is now forced to find new ways to replenish...