SOVIET DISCRIMINATION AGAINST RUSSIAN JEWS

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP65B00383R000200190020-0
• Release Decision: RIFPUB
• Original Classification: K
• Document Page Count: 4
• Document Creation Date: December 22, 2016
• Document Release Date: April 27, 2010
• Sequence Number: 20
• Publication Date: January 1, 2000
• Content Type: OPEN

Approved For Release 2010/04/27: CIA-RDP65B00383R000200190020-0
Y 9 63 CONGRESSIONAL RECORD - SENATE
4257
stock market had its difficulties last spring, problems that face our country at this time. Now, in 1963, the Government once again
I got a good many letters. I do not intend to assess the blame for the is faced with these same decisions. I hope.
I receive no mail thanking me and ex- past. There is enough to go around for we will bear in mind the lessons of history.
pressing admiration for my economic wis- everyone. But we shall all be deserving of I hope we will remember the editorial in
down when the market goes-up, but when it blame, we shall all be deserving of blame if Business Week magazine, June 28, 1958,
goes down we all know who is wrong. There- we do not learn its lessons for the future. which pointed out the effects of an unrealis-
fore, that being true, recognizing that the The Federal Government, and I shall speak tic debt ceiling and a harmful slash in ex-
President of the United States and the Gov- here not of any one party or branch of the penditures, and I quote them:
ernment will be responsible if we have eco- Government, but the Government as a whole "In the second half of 1957, the debt ceil-
nOmic difficulties, it seems to me that we decided in 1957 to keep the debt limit un- tag forced the administration to cut back
have some right to present proposals which realistically low, to cut back and stretch out programs needed for long-term national se-
may lessen those aconomic difficulties. budget expenditures, to tighten monetary curity. And," they said and I quote, "the
We have some right, really, to be listened policy, and to reject all efforts at tax reduc- resulting slash in defense expenditures was
to. We are attempting to avoid those haz- tion. The harsh results of those decisions an important contributing cause of the
ards which will inevitably be blamed upon are still with us.
U8 when they finally come, and recession
unrealistic
look to Washington in all kinds ofl ways ploym nt decade
had rarely previous
exceeded 4 percent. eIn today would also causeealislowdownd ntcon-
when difficulty comes across the country, the 64 months since those decisions, it has tracts, a stretchout in payments, a cash
It is also true of business and economic dim- remained above 5 percent. drain on business, and ultimately another
culties. So the matters we are now discus- In the earlier decade, business fixed in- recession. Instead of balancing the budget,
sing, and the proposals we have made in re- vestment averaged nearly 11 percent of total it would produce a budget deficit far greater
gard to the budget, Federal expenditures, output. It has since that time fallen stead- than the temporary addition to the deficit
and the tax, cut, are all representing our ily to roughly 9 percent today. that will come from a tax reduction. Let us
Qfforts to avoid the difficulties which, if they In the previous decade, our total output remember that the $12.4 billion deficit of
come, will inevitably be blamed upon the of goods and services, measured in constant fiscal year 1959 was the result of a recession
President of the United States. prices, had increased at the rate of nearly 4 which wiped out what had originally been
The first 2 months of the 88th Congress percent a year. Since mid-1957 the rate of conceived of As a surplus of $500 million.
have been dominated by discussions of fiscal increase has been limited to 3 percent. This administration is not asking for an
and economic policy and the next several All three of these decisions were taken in unlimited debt ceiling, but a realistic one
months will be dominated by the same facts. the name of fiscal responsibility. But if that which will still keep the actual debt burden
I think that is very wise. We are attempting high-sounding label is intended to refer to as measured by a percentage of our gross na-
to do something new, and that is to talk budget and balance-of-payments surpluses, tional product steadily declining. As you
about a tax cut at a time when we have a it was a name taken in vain. know, it has declined for 120
deficit, and at a time when we have rela- The preceding 11 fiscal years had produced gross national product, 17 or 18 years ago,
tively good times, even though a disturb- seven cash surpluses in the Federal budget , to 54 percent today, will continue our
ingly high rate of unemployment, so we are for a net cash surplus of $20 billion. The decline both as a percentage of our popula-
talking about, in a sense, something new, 6 succeeding fiscal years produced one sur- tion per capita and as a percentage of our
and it, is appropriate that we talk about it in plus and five deficits, including the greatest gross national product.
detail; and it is necessary that we get 'some peacetime deficit of all in fiscal 1959, for a We are not asking for uncontrolled budget
understanding across the country of what net cash deficit of $30 billion. Had the increases, but for a
im
t
por
prudent budget which,
ant economy been operating at full employment, contrary to all trends in Government, both
and it does represent a change in previous there would have been no deficit. local and State, actually reduces civilian ex-
policies enunciated by the U.S. Government. The balance-of-payments problem became penditures below their level of last year, a
The fact is, of course, these questions are a problem only after mid-1957, with a total feat Which has occurred only four times in
all highly technical. To explain the dif- deficit of $11.2 billion during the next 3 cal- the last 16 years, a hard defense budget
ference between a family budget and the U.S. endar years and a gold loss of more than which, interestingly enough, was increased
budget, to explain why we believe it difil- $5 billion during the same period. The fact by half a billion dollars yesterday in the
cult, if not impossible, and certainly unwise, that short-term interest rates had been in- House of Representatives. And we are not
to attempt to secure a balanced budget this creased 40 percent in 1955 and 1957 did not asking for an unprecedented tax cut because,
year, which we believe would put us into a help to stem this balance-of-payments tide. while the total amount of the tax cut in
recession, which we believe would unbalance As the OECD said last December: calendar months beginning in July would
the budget, these are highly sophisticated "Confidence in the dollar depends in good take place over a period of 18 months for the
questions, far more sophisticated than those part on, a strong domestic economy; it is fiscal year, it will result in a $2.7 billion
questions which occupied our attention dur- unlikely to be fostered for any length of loss in this fiscal year.
ing the 19th century of free silver, trade, time by policies that keep the level of ac- Certainly it is clear that if we slide into
and all the rest. Balance of payments and tivity low."
the cyclical problems and debt management Unfortunately, the size of the deficits in cut will rbe farnlargerdthan heho a ta
another , the are all far more complicated and every solu- our Federal budget and our international deficit we face with a tax cut. It seems
tion raises new uestions. projected
Thra familiar accounts led the Government in 1959 to to me that the logic of our problem and the
questions of fiscal policy adopt even more restrictive fiscal and mone- past is so clearly before us that I sometimes
,must be decided by the Congress: tary policies. The Federal cash budget dur- find it difficult to understand why so many
The limit on the national debt. ing the first quarter of 1959 was operating members of the business community who live
The size of the Federal budget. at the level of $17 billion deficit at annual with these
problems The desirability and extent of Federal tax rates. By the third quarter, this had become lived through he llas 20 years, are so reluc-
reduction. day by day, who have
questions have faced ter billion deficit, e and 1960, ea second
All three of these e$ of the next xt
a
surplus of of l f e in accept what are obviously the facts
legislative and
a
'
--
e have an obligation to learn the les- Burns, who served mV - - r a .
s r
sons of history if. we do not wish to relive it. man of the Council of Economic Advisers,
In front of the Archives Building there and who call this, and I quote, "one. of the
is a statue, and under it is says "The past is very sharpest shifts of Federal finance in
prologue." Not necessarily, and it is be- our Nation's history." -
cause we do not wish to relive the past, be- At the same time, Dr. Burns pointed out,
cause we do not wish to regard the economic expansion was curbed by a tight-Pas necessarily a prologue in the 1960's thatt as ening of both short-term and long-term
have attempted to put forward our proposals. credit. Long-term rates, in fact, "advanced
Economic history, specifically the histor faster," and stage I of quote any him, business mess ycle d a
of 1957-60, which produced two recessions g the Past hundred cycle ur-
fronl which the ..whole economy has never .in the past hundred years."
fully recovered, clearly warns us now that The result was another recession, more
the wrong answers to each of these three unemployment, more unused capacity, and
questions would spell downturn for the another incomplete, recovery. Today's out-
American economy as a whole. put is $30 to $40 billion below our pro-
, ductive I do not speak as a partisan. The errors of nient has capacity.
to 6.1eperrate of c percent of those ac-
a Republican administration and a Demo- tively seeking work. Corporate investment
cratic Congress during these crucial years last year was for the first time in any non-
have been acknowledged by members of both recession year since the war-below the level
parties. I do not review them now to gain of gross retained earnings. And business
political advantage in hindsight, but to gain spending on new plant and equipment was
a greater degree of foresight on the same at a lower level than it was in 1957.
into the labor market every wo are pouring
very time when automation is becyear, the
omingtmost
sophisticated, millions of people who are
looking for work. In 1960, 2.6 million Amer-
icans reached 18. In 1965, it will be 3.8 mil-
lion reaching 18, which is this tremendous
increase as a result of the war-baby boom
of people looking for work in the 1960's.
So We have all of these a climax in 1960, automation, things increase in
those in the labor market, and Number 3, a
slow growth in our economy. That is what
we are faced with in these years. I am hope-
ful that the lessons of history will be learned
by us all, in and out of Washington, by those
of us in the administration, and the Con-
gress, and by all of you.
"The great de Tocquevilledinn1835, o "The Americans,"
advan-
tage of Americans consists in their being able
to commit faults which they may afterwards
repair." To this I would add the fact that
the great advantage of hindsight consists of
our applying its lessons by way of foresight.
- Approved For Release 2010/04/27: CIA-RDP65B00383R000200190020-0
 Approved For Release 2010/04/27: CIA-RDP65B00383R000200190020-0
CONGRESSIONAL RECORD SENATE March 19
458.,.
ft this community
ftila Nation can apply the lessons and re- There being no objection. the articles "As a religious group, too,
pair the faults of the last 5 years, If we can were ordered to be printed In the RECORD, is deprived of the prerogatives which are
stick to the facts and cast out those things still extended to other faiths, such as the
as follows: production of sacred books and articles, the
which really don't apply to the situation, INS TIONS-AUSTRALrA's INITIATrvs training of clerics and contact between the
then surely this country can reach its 90618. local
Jewish om-
unities aI'1