All week Washington and the nation were preoccupied with Richard Nixon's budget and economic message, with the pain of inflation and the fear of recession. Through all the talk about billions and trillions, and about the size and direction of future growth, rang echoes of the President's State of the Union message of the week before. "In the next ten years," Nixon said in one remarkable passage, "we shall increase our wealth by 50%. The profound question is: Does this mean we will be 50% richer in a real sense, 50% better off, 50% happier?"
It is startling for any American President,...
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