Ford UFO Files

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too little of the frills too late.
The Administration must stop pursuing will o 1 the wisp fiscal fantasies and return to
sane, proven, down-to-earth monetary and fiscal poltcies.. "Voluntary., wage and prh:e 11guide-
posts" become an abftL'fdity when the very reason for them is the Administration's own foolish lack
of monetary common sense. If the Administration would cut o!Jt the obvious ca,;ses of inflation,
the so-called "guideposts" would be unnecessary.
The Administration must respect and defend the role of the Federal Reserve System l1~
an independent agency within the government. To the layman, the importance of this is not per-
haps at once obvious. But I can assure you that if the Federal Reserve System ever loses its politi··
cal independence we will be at the mercy of the wild spenders end their wildest dreams. There ..
will be no independent agency to warn or to curb.
The Administration must attack residual unemployment with real weapons rather than
wtth promises, press releases and propmganda. It must emphasize selective programs of job-trainin~.
counseling and placement as provided in the Republican-sponsored Manpower Development and
Training Act of 1962.
The Republican Coordinating Committee also urged that the Administration consoli··
..:late or eliminate overlapping Federal programs. and, where possible, turn their administration ov.>r
to State and local governments.,
Last week, the President noted that living costs are soaring and he asked the Natio~''
housewives to hold down their spending .. What the President must be told--and accept--is that f1>f-
Government must get about the business of putting its own house in order before handing out ad-
vice.
This is Congressman reporting to you from Wa!hington.
(A copy of this script ls available on Teleprompter in the House TV Studio)
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