The Economy: Of Druthers & Deficits

"No more important domestic economic legislation has come before the Congress in 15 years," the President of the U.S. told the nation last week. He was referring, in a televised talk, to the $11.1 billion tax-cut bill. And to hear him describe it, the measure was the cure for everything except maybe halitosis and warts.

It offered something for everybody —more jobs, more buying power, more production. For the businessman, there would be new markets equal to the combined gross national products of Canada and Australia, and more "profits in his cash...

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