President Johnson's State of the Union message set off reactions in the economic community that were dramatic and positive in some cases, cold and doubtful in others. The stock mar ket's response was hectic: trading records were broken, and an existing upward trend was solidly extended and reinforced. Businessmen and bankers had mixed feelings about tax surcharges, some criticism for the President's ex planation of tight-money problems, and broad concern that the Government is still spending too much domestically in the face of increased costs of the Viet Nam war.
On Wall Street the morning after the speech, more than...
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