THE ECONOMY: Half a Trillion

A backwoods preacher once explained his homiletic methods thus: "Ah tells 'em what Ah's gwan to tell 'em. Then Ah tells 'em what Ah done told 'em." The Eisenhower Administration has used a roughly equivalent brand of economic preaching, and last week, in his annual Economic Report, the President told how well it had worked in stemming last year's "contraction" (i.e.,mild recession).

A year ago, Ike's Economic Report made it clear that his Administration was on top of the incipient recession, and predicted that it would end before the year was out. The Government was cutting taxes, easing credit, and holding...

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!