The Economy

A Sense of Foreboding body

In the U.S. economy, the pessimism index last week stood at its highest point in many years. There were worries that the economy, caught between inflation and recession, would be further strained by the stepped-up war, and that President Nixon had no better medicines to apply than those he has already tried. They are not working—at least not yet.

Unemployment is climbing faster than the President had wished; it jumped from 4.4% of the labor force in March to 4.8% last month, the sharpest rise in a decade. The President's hope for a budget surplus is disappearing,...

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