In a San Francisco speech last week, Treasury Secretary George Humphrey outlined, in clear and simple terms, how the Administration regards the U.S. economy today. Excerpts:

"WITHIN the last half century, this nation has gone through an economic evolution that makes pale any other in the long history of man's efforts to achieve a better life. We in this Administration have hitched our wagon to this rising star of a "have" nation. But on coming into office, we found that this great day-to-day American evolution from the bottom up was in danger. We found the economy's growth hobbled by successive layers of...

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