TODAY AND TOMORROW

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP75-00149R000500450145-1
• Release Decision: RIPPUB
• Original Classification: K
• Document Page Count: 1
• Document Creation Date: December 22, 2016
• Document Release Date: April 9, 2010
• Sequence Number: 145
• Publication Date: June 28, 1960
• Content Type: NSPR

STAT JUN 2 8 ion
Sanitized Copy Approved for Release 2010/04/09 : CIA-RDP75-00149ROO0500450145-1
Today and Tomorrow
`Growthfnanship'
all in favor of growth, the
critics of the Administration,
namely Gov. Rockefeller and
the leading Democrats, are
not to be taken seriously. For
they are playing "the most
fashionable parlor game of
our time-a game that might
well he called 'growthman.
ship.' "
Just why do these playboys
spend so much time and en-
ergy on a mere parlor game?
It is because they realize the
gnat Importance of o u r
slowed down rate of growth.
At our rate of growth in re-
cent years we are unable to
meet our public needs, to add
to our defenses, and at the
same time to keep on Increas-
ing private investment and to
keep on raising the civilian
standard of IHe. We have
been producing le s than we
need and less than our aeon.
omy is capable of producing.
year is out, a
major nation-
al debate over
the subject of
econom lc
growth." Who
will be debat-
ing with
whom and
about what?
According to
Mr. Nixon,
while we are
LAST WEEK at St. Louis
the Vice President announced
that "we are now engaged i,
what will become, before this
of increase is about 5 billion now anus for R Oantfm - pr'Odua f10t ve
dollars, and so the difference be paid ~'. ian the that. Is evern- ladurtri al _ _ ~, ttr a
auhatnn
w.,.. .... ,.... .,.,...., .. ... e. . A .
the parlor Same of, growth'
ntanhip.
THERE 18 ONE other fee-
for a few words. In a loos
passage Mr. N i x o n talks
about the Soviet rate of
growth, which he. puts at S
per cent and our own which
he puts at 3 per cent. He
then says that the opposition
critics are proposing to raise
the American rate to that of
The Soviet. It the critics do
that, they are exaggerating.
A sustained average rate of 4
far cent would be ample for
us. Mr. Nixon says, too, that
the critics think, as Mr. K.
apparently believes, that the
Soviet economy will by 1270
catch up with and surpass
the American.
No serious American stu-
dent of this subject agrees
with Mr. K. What the seri-
ous critics say is that the So-
viet economy is about half as
big as the American and that
Its rate of growth itas re'.
7 tly been at least twiol that .
he American. This means,
that the annual Increment
of new wenltb+wbMb is t
available for and
vote n pptpWMO
civilia we on-41m 11112"t
a large Soviet Vales
so in the ted States. I
population. At only 12 bil-
lions Increase, we c a n n o It
spend more on defense and
oq our public needs- 4ucb as
edocatlon and urban rede-
veloprfent and scientific re-
search-without reducing the
Improvement in, perhaps
without cutting back, the ci-
villan standard of life. But a
4 per cent with 20 billions,
we can afford to do the
things that reasonable men,
including as we shall see the
Vice President himself, think
should be done.
That is why concern with
our growth is not a parlor
game.
JUDGING by his St. Louis
speech, Mr. Nixon does not
understand the problem. For
after scoffing at the popular
interest in growth, he con-
cludes his own speech with a
broad general endorsement
of a large spending program.
That, at least, is what he calls
It when Gov. Rockefeller and
the Democrats propose the
same kind of program. Un-
der his auspices It cease to
be a spending program and it
becomes "Investment in the
publio sector."
He would invest in. yt{t
public eduegtfon establyh
manta, in our national traps-
portation system, In the a-
newel of our randon n
areas, to the dies of
sources, Its providlag *ts
five arse leader p tae the
vanities $tlenells am tech-
nolegle$l revolution which
will eliIAenow otlsji the
whole atK a! pp to
rolled into
In these a
IN TH2IF
FROM 1953, which marked
the end of the Korea war
boom, through 1055, the aver-
age rate of Increase of output
has been only 2.4 per cent.
The average is low because
in those seven years there
were two recessions. The net
result- was that the average
rate of increase was less than
the average, 2 per cent, from
1670 to 1930. Yet in these
seven years of s l u g g i s h
growth, the country has had
the capacity-It has had the
labor, the capital equipment,
and the technical know-how
-to grew at the rate of at
least 4 per cent,
it may not seem like a big
differeoae, to grow at an av.
..a. rats of lose that I nor