Business: Bad Things Come in Threes

Economy & Business

Amid price surge, output slump and energy crunch, Carter seems stymied

From all sides, the intertwined problems of inflation, recession and energy squeeze are closing in on the U.S. economy. Prices keep roaring ahead at a double-digit pace. Inflation-straitened consumers, who have long kept the economy rolling by spending above their means, are pulling back on their purse strings. So the longest, most sustained economic advance in U.S. peacetime history is rapidly coming to an end. As the nation heads toward its second energy-fueled recession in the past five years, the Carter...

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