State of Business: Records that Deceive

As he discussed the state of the U.S.economy at his press conference last week President Kennedy had the air of a man who hopes for the best—but expects something less. On one hand, he insisted that the recovery "has been a good one." and to bolster his point, cited a list of economic indicators at record levels. Then, in a tacit admission that he was just as disappointed in the economy's lack of zip as most businessmen, the President proceeded to promise that he would ask Congress for "an across-the-board reduction in personal and corporate income tax." effective Jan....

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