PHASED: High Half-Time Score

Less than a year ago, politicians in both parties were predicting that the economy would be Richard Nixon's Achilles' heel in the election campaign. But as the 1972 economy moves into its second half, the outlook continues to brighten so steadily that the Democrats may have to stick to issues like tax reform and income redistribution.

Preliminary reports of the economy's performance in the March-June quarter are that the gross national product scored about a $30 billion quarterly increase. Though the gain was off slightly from the first quarter's $30.6 billion, this...

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