THE OUTLOOK: A Deeper Slump Before the Upturn

As the U.S. economy continued its harrowing slide last week, President Ford went before the Business Council to explain his attitude toward the deepening recession. It was a curiously downplayed effort; the White House did not request television time, and perhaps that was just as well. According to some advisers who helped draft the speech, it was supposed to indicate a willingness to revise policy to deal with plunging production and mounting joblessness, but it came across to some listeners as indicating the exact opposite. Ford did promise some unspecified new...

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