The Administration: Councilor to Canute

"To say that we have no need for a tax increase is becoming easier and easier," declared a White House economist last week. His remark reflects a growing confidence within the Administration that it can avert serious inflation without boosting taxes, that President Johnson's stubborn refusal to do so will prove in coming months to have been not only politically astute, but economically wise as well. If this confidence is borne out — in the face of mounting war costs and the free-spending mood of Congress — the nation can thank Gardner...