THE ECONOMY: Toward Higher Peaks

Pointing to the U.S.'s bright economic future, President Harry Truman used to talk headily of a $440 billion gross national product by 1960, but the U.S. economy's actual growth under Truman's successor has made that rosy forecast seem downright conservative. Last week, in a frankly political speech to a Republican rally in Chicago, President Dwight Eisenhower brandished some economic facts that might turn out to be bigger bipartisan news to the people of the U.S. than all the week's campaign speeches put together. In the third quarter of 1958, said Ike, gross national product climbed to an annual rate of...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!