Impeachment Hearings: House Judiciary Committee, July 25, 1974 (1/2)
Impeachment Hearings: House Judiciary Committee, July 25, 1974 (1/2)
[00.13.40] [NIXON'S economic speech from Los Angeles continues--NIXON's demeanor is as wooden as ever, giving the impression that he is unaware of an IMPEACHMENT CRISIS] NIXON continues to give the friendly audience of businesspeople a pat speech about his plans for economic recovery, giving free play to orthodox freemarket economic ideas. Talks boldly about the budget that he will submit for the next fiscal year, implying his intention to remain in office. This proposal includes lots of spending cuts. Mentions the Congressional Budget and Impoundment Control Act, recently enacted, which allows Congress to consider entire budget as whole, not as constituent parts, designed to effect spending cuts, calls on Congress to cooperate with spending cuts. Expresses confidence in his support in Congress , drawing applause. Moves on to monetary policy. says that interest rates may have to go up a bit in order to fight inflation to lower rates eventually (fat chance!) Calls for a general "fat cutting" from the Federal Government down to the individual citizen, expressing faith in the will of the American people to take active part in saving to reduce inflationary pressure. In discussion of energy policy, mentions "Operation Independence", an effort to reduce American dependence on foreign oil supplies. [this draws applause with great enthusiasm] Panders to the audience by lamenting the way that the "creative energies" of the American economy are "stifled" by "burdensome overregulation". Cites the obviously ridiculous example of regulations requiring some trucks to run even when empty. Pledges a sweeping review to weed out wasteful regulations for increasing productivity. Demonizes environmental protective policies as a drain on productivity--offhandedly concedes that such goals are important, but then raises the canard that such policies of environmental protection are having any significant effect at all on industry. Pledges "reevaluation" and "adjustment" [lots of applause]. [00.26.39]