The Economy: Process of Education

With President Kennedy already set on a tax cut this year if he can get it, the Administration last week moved to clear some obstacles out of the way—or at least to chart them carefully for future reference. While deliberately downplaying any idea that the U.S. might be on the brink of another recession—a task that becomes increasingly difficult as more disappointing economic indicators come out—it began the process of "educating" the Congress and the people to the need for a tax cut. The first lesson: public hearings on whether a cut is advisable now.

The Administration persuaded Wilbur Mills,...

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