President Nixon was called upon to take immediate action to cut inflation and military spending during a television speech by the U.
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Cu Sen. Mansfield speaks.
TRANSCRIPT: SEQ. 2: SENATOR MANSFIELD: "We are using our resources at a reckless rate, and with dubious wisdom, and in other ways. We hold the view that the economic problems of this nation will not disappear at a date uncertain in the future, if only they are left alone by government -- especially in the light of our continuing involvement in the war in Indo-China. We do not accept the view that a little unemployment is good for the nation, any more than we can believe that a lot of inflation is good for the nation. Within these premises, the majority in the congress will give the most respectful consideration to whatever the President may propose to halt the inflation and high interest rates, to reduce unemployment and to terminate our involvement in Vietnam. To that end, the President has had the co-operation of the Congress in the past. He has it now. He will have it in the future. He has it in good conscience without any ands, ifs or buts. The Republic deserves no less."
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Background: President Nixon was called upon to take immediate action to cut inflation and military spending during a television speech by the U.S. Senate Democratic leader Mike Mansfield yesterday (Wednesday).
Replying to the President's state of the economy speech made last week, Senator Mansfield said that the White House would have the full support of Congress in any attempt to discourage excessive wage and price increases.
The Senator said that many of the U.S. economic problems derived from overspending in the military sphere. The war in Indo-China was the worst drain on the country's resources, he said, and he went on to warn: