Reading Election Tea Leaves

Strong growth and low inflation boost the President's campaign

The Republicans will not open their convention until Aug. 20, but on one front their election drive was already off to a roaring start last week. The Government released economic statistics that could hardly have pleased Ronald Reagan more. From April to June, the gross national product grew at a 7.5% annual rate, after adjustment for inflation. In the past 18 months, the U.S. has enjoyed the strongest recovery since the boom that followed the recession of 1949. And at the same time, inflation has...

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