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UM Sweeps East-West Classic 3-0 -See Sports Page 8 THE MIA UI\MC Volume 58, No.31 Tuesday, February 9, 1982 Kahn Attacks Reaganomics By PAMELA LIVINGSTON New.. Writer Alfred Kahn, chief inflation fighter for the Carter administration, told why he thinks Reag- onomics isn't working. Ue spoke to about 300 persons in the Ruth King Stanford Lounge Wednesday night. As chairman of former President Carter's Council on Wage and Price Stability, Kahn worked two years to bring down inflation that rose from nearly 10 percent when he began office to nearly 20 percent when he left. The former chairman of the Civil Aeronatics Board rushed onto the stage some 30 minutes late. His plane had been delayed. "This is not the consequence of airline deregulation," he quipped about his role in getting airlines the freedom to cut fares and enter new markets. Kahn held the audience's attention with humor, but between rapid-fire jokes he packed information and opinion. Kahn praised the Reagan administration for cutting $40 billion from the federal budget. "We |the Carter Administration! were only able to cut about $l.r> billion,"he said. Cutting federal spending theoretically will decrease government demands on goods and services that push prices up; decreased federal spending likewise will reduce the amount of money that the government borrows from the Federal Reserve, thus lowering interest rates and making low-interest loans available to business and industry. Using low-interest loans, businesses would reinvest and expand. Production would increase, and the taxes on the earnings of expanded production would bolster the federal budget. But the Reagan administration also plans "an extraordinary increase in defense spending" that will be larger than the decrease in spending for civilian programs, Kahn said. The Reagan administration proposed an increase in defense spending of $33.1 billion and a cut in domestic spending of $43 billion. The Miami Herald reported Saturday. Reagonomics is "schizophrenic," Kahn charged. The administration's "tight money policy" contradicts its "loose fiscal policy" of large tax reductions, he said. "The fiscal policy says 'giddyap' and the monetary policy says 'whoa,' " he said. The 25 percent tax cut is "an enormous leap into the unknown." By cutting taxes, the government depletes a big source of income that it needs to run federal programs. Without needed revenues, the government must borrow from the Federal Reserve. Government demand for dollars competes with demand from the private sector and pushes interest rates up. The Federal Reserve raises the discount rate at which banks borrow money to prevent too many dollars from flowing into society and aggravating inflation. "The monetary policy is the only way the administration is fighting inflation," Kahn said. The restrictive monetary policy will continue until the federal budget is balanced, he predicted. The deficit for the current fiscal year will be a record $96.8 billion, and the proposed deficit for 1983 will be $91.5 billion. The current high interest rates defeat reinvestment, Kahn said. "Nobody wants to save and nobody wants to lend." The country is in its deepest recession since 1938; unemployment is at 8.9 percent, Kahn said. The recession, or stagflation — rising prices without increased productivity — is not wholly the fault of the Reagan administration, Kahn said. The Vietnam war demanded a sharp increase for petroleum products and excessive expenditures from an economy that was at almost full employment caused stagflation. So.too, did the enormous cost increases for energy, brought about by OPEC. Kahn said the United States has "advanced welfare state capitalism," another cause of stagflation. "We demand tax breaks and shelters, tax- free financing, government loans, all sorts of deductions on property taxes. We're the only major industrial nation in the world that allows deductions on mortgage interest, he said. "We are suffering from a growing gap between our expectations of what we want to get out of our economy and our real ability for the economy to supply it." "We're trying to subsidize everybody at the expense of everybody." Nevertheless, Kahn said some of the Reagan administration's budget cuts were "outrageous." The administration has failed "to distinguish between investment and consumption," he said. By cutting food stamps and subsidized day care, for example, the government takes away a poor working mother's incentive to work.' Working mothers will leave the job market for welfare benefits under the Reagan administration, Kahn said. Supplying food stamps and low-cost day care would be investment in this instance, he said. Kahn's speech was sponsored by the University Lecture Series. Kahn's lecture will be screened twice this week by the economics department. Call the department for details. Miami Hurricane/BOB ANTHONY The Coral Gables Rescue Squad helped an unidentified UM student who suffered from a shortage of breath outside of the Riehter Library Friday. The Coral Gables Police, who had arrived first on the scene, assisted with the administration of first aid. Football Coach Praises Fraternities By LOURDES FERNANDEZ Head Newa Writer Coach Tom Olivadotti, defensive coordinator for the Hurricanes, was the highlight of the Third Annual Interfraternity Council Banquet held last Wednesday at the Faculty Club. Also on the banquet's program wa.s an awards presentation and installation of the new IFC officers The original guest speaker. Head Football Coach Howard Schnellenberger. was unable to attend because he was snowbound in Chicago, where he was recruiting. Olivadotti, Schnellenberger's replacement, thanked the fraternities for their support of the football program. "You're the backbone of our school spirit," Olivadotti said. "Your attendance at the games is important. In fact, your support at the Florida game helped us win." Olivadotti also thanked the fraternities for letting those in charge of recruiting attend fraternity parties in order to scrutinize possible recruits. "We have to see the young men we're recruiting in every social aspect," he said. "We turned down one guy based on his actions in a fraternity party. He had a deep severe ego problem . . . besides, he wasn't that good a player." Lastly, Olivadotti expressed his gratitude towards the fraternities for their positive influence. "It's easy to be negative on a col lege campus, since its the easy way out. But, we've had your continued support and commitment. Without your help we just can't make it," said Olivadotti. Olivadotti's speech was followed by an awards presentation. One award given during the evening was the Plato Award, a prestigious honor bestowed' td a fraternity member that has contributed much of his time to the greek system at the University of Miami. This year, the award was given to Edward Pozzuoli, 1981-82 IFC president, member of Lambda Chi Alpha and many other student organizations. The 1982-83 members of the IFC executive council were inducted by Craig Mattox, 1981-82 IFC vice- president. The new executive council consists of Larry Baum, president; Mark LeFerrara, vice-president; Scott Batcheller, treasurer; Bill Dykes, secretary; and Craig DuBois, member-at-large. Miami Hurricane/STU BAYER. Former Carter Aide Allied Kahn Spanish Leader Tells Problems Of Spain, Europe <:°aeh Tom Olivadotti At IFC Banquet Miami Uumcane/tLISA OLDKRMAN I By MARY CRONIN Head News Writer At age 70, Lieutenant General Manuel Gutierrez Mellado has seen a great deal of change in Spain and has contributed to that change. A former Vice President of the Spanish Government from 1976 to 1981, he was appointed by King Juan Carlos I and President Adolfo Suarez. As the Minister of Defense from 1977 to 1979. Mellado was cited for his opposition to the attempted coup last February in the Spanish Parliament. During that encounter, he rose in defiance of the coup members to show that Spain's armed forces did not support their movement. Despite his firm denial that he has ever been a politician, Mellado bas often worked within Spain's political ranks and was a co-signer of thp Spanish Constitution. Mellado's military career began at the Military Academy of Zarago- za in 1929. and he fought in the Spanish Civil War. He is well known in Spain for having restructured the Ministries of the Army, Navy, and Air Force into one Ministry of Defense. While at UM to speak at a symposium on "Spain and America," Mellado was interviewed about the future of Spain and his involvement in its history. Hurricane: Do you feel that the armed forces will accept the entry of the Spanish government into NATO? Can the Spanish forces be properly integrated into NATO ? Mellado: I think that they |the armed forces| are in perfect condition for integration into NATO. It can'l be done overnight, though. There would be negotiation, then discussion, then a gradual adaptation into NATO. In any case I think it will depend heavily on the negotiations, as it would for any European organization. We won't enter into it with blind eyes; it will be negotiated and it has to be beneficial for the two sides. Hurricane: All of Europe, including Spain, is having a difficult time coping with unemployment. What is being done in Spain to combat the problem? Mellado: That is a priority problem. I believe that important agreements have been made between the government and opposition groups to try to solve it. I consider it difficult, however, to solve the Spanish crisis if it isn't done as a function of the international crisis. But. if the important nuclei — the employers, workers, government and syndicates — cooperate, and if they all want to solve the problem, it can be done little by little. The immediate future is a bit brighter, but it is a very difficult question. Hurricane: Do you think that the regionali/.ation of Spain in the long run is beneficial to the democracy? Mellado: The problem with the autonomies is important. It's being done bit by bit with great difficulty. I think there is a necessity and a desire to reach an agreement. On the other hand, Spain has known autonomies, reigns, different regions, and nationalities. That word |autonomy| that has been discussed in detail in the constitution has had its days of splendor in the past. The problem is to give the autonomies certain powers and decisions, while maintaining to the state those matters necessary to the state. Autonomy is one thing, separatism is another. The majority of Spaniards admit that autonomy i* good but we don't permit separatism. There are always minorities that take advantage of autonomy to go too far and that is not accepted, and others who would like to see everything centralized. The balance that we have to attain is difficult, but we are getting there. Miami Hurricane IGIN A MOLINARO Mellado Hurricane: As there appears to be a considerable amount of strife in Spain's ruling party, the UCD (Union of Democratic Center), do you think its time as a ruling party has ended? Mellado: First, I am not a politician and I don't belong to UCD, although I have been part of UCD' governments in which I was responsible for and in solidarity with what the governments did. That question is a matter for prophets and I am not a prophet. But, I do believe that UCD is an important political ower that has its ups and downs, but I don't dare predict what will happen. Hurricane: What about the possibility of Spain becoming a Socialist nation? Felipe Gonzalez (the head of Spain's Socialist Party) is very popular right now. Mellado: We check all that France does because they are very close to us. We check the Socialist experiment and everything else because it concerns us as France is one of our neighbors. But we are sometimes not very happy with what they do. Concerning Felipe Gonzalez and the particulars of the Socialist party, it's the same as before — it's an important power |France) and Gonzalez's Socialism is also, but we don't know what can happen. In such an important country such as the United States, with the electoral predictions, I remember that the public predictions and opinions have failed many times. Hurricane: What of Gibraltar, and the current Spanish position orl I don't know what can happen if Spain enters NATO, but I can say that the decision that Spain keep Gibraltar is permanent and continues in Spain, with all due respect to the inhabitants of the region. Note; The interview mu conducted in Sptm* tak, and (he translation of the Lieutenant General's, answers was done by Conv Editor Charles Lavin. vy \
Object Description
Title | Miami Hurricane, February 09, 1982 |
Subject |
University of Miami -- Students -- Newspapers College student newspapers and periodicals -- Florida |
Genre | Newspapers |
Publisher | University of Miami |
Date | 1982-02-09 |
Coverage Temporal | 1980-1989 |
Coverage Spatial | Coral Gables (Fla.) |
Physical Description | 1 volume (10 pages) |
Language | eng |
Repository | University of Miami. Library. University Archives |
Collection Title | The Miami Hurricane |
Collection No. | ASU0053 |
Rights | This material is protected by copyright. Copyright is held by the University of Miami. For additional information, please visit: http://merrick.library.miami.edu/digitalprojects/copyright.html |
Standardized Rights Statement | http://rightsstatements.org/vocab/InC/1.0/ |
Object ID | MHC_19820209 |
Type | Text |
Format | image/tiff |
Description
Title | Page 1 |
Object ID | MHC_19820209 |
Digital ID | MHC_19820209_001 |
Full Text | UM Sweeps East-West Classic 3-0 -See Sports Page 8 THE MIA UI\MC Volume 58, No.31 Tuesday, February 9, 1982 Kahn Attacks Reaganomics By PAMELA LIVINGSTON New.. Writer Alfred Kahn, chief inflation fighter for the Carter administration, told why he thinks Reag- onomics isn't working. Ue spoke to about 300 persons in the Ruth King Stanford Lounge Wednesday night. As chairman of former President Carter's Council on Wage and Price Stability, Kahn worked two years to bring down inflation that rose from nearly 10 percent when he began office to nearly 20 percent when he left. The former chairman of the Civil Aeronatics Board rushed onto the stage some 30 minutes late. His plane had been delayed. "This is not the consequence of airline deregulation," he quipped about his role in getting airlines the freedom to cut fares and enter new markets. Kahn held the audience's attention with humor, but between rapid-fire jokes he packed information and opinion. Kahn praised the Reagan administration for cutting $40 billion from the federal budget. "We |the Carter Administration! were only able to cut about $l.r> billion,"he said. Cutting federal spending theoretically will decrease government demands on goods and services that push prices up; decreased federal spending likewise will reduce the amount of money that the government borrows from the Federal Reserve, thus lowering interest rates and making low-interest loans available to business and industry. Using low-interest loans, businesses would reinvest and expand. Production would increase, and the taxes on the earnings of expanded production would bolster the federal budget. But the Reagan administration also plans "an extraordinary increase in defense spending" that will be larger than the decrease in spending for civilian programs, Kahn said. The Reagan administration proposed an increase in defense spending of $33.1 billion and a cut in domestic spending of $43 billion. The Miami Herald reported Saturday. Reagonomics is "schizophrenic," Kahn charged. The administration's "tight money policy" contradicts its "loose fiscal policy" of large tax reductions, he said. "The fiscal policy says 'giddyap' and the monetary policy says 'whoa,' " he said. The 25 percent tax cut is "an enormous leap into the unknown." By cutting taxes, the government depletes a big source of income that it needs to run federal programs. Without needed revenues, the government must borrow from the Federal Reserve. Government demand for dollars competes with demand from the private sector and pushes interest rates up. The Federal Reserve raises the discount rate at which banks borrow money to prevent too many dollars from flowing into society and aggravating inflation. "The monetary policy is the only way the administration is fighting inflation," Kahn said. The restrictive monetary policy will continue until the federal budget is balanced, he predicted. The deficit for the current fiscal year will be a record $96.8 billion, and the proposed deficit for 1983 will be $91.5 billion. The current high interest rates defeat reinvestment, Kahn said. "Nobody wants to save and nobody wants to lend." The country is in its deepest recession since 1938; unemployment is at 8.9 percent, Kahn said. The recession, or stagflation — rising prices without increased productivity — is not wholly the fault of the Reagan administration, Kahn said. The Vietnam war demanded a sharp increase for petroleum products and excessive expenditures from an economy that was at almost full employment caused stagflation. So.too, did the enormous cost increases for energy, brought about by OPEC. Kahn said the United States has "advanced welfare state capitalism," another cause of stagflation. "We demand tax breaks and shelters, tax- free financing, government loans, all sorts of deductions on property taxes. We're the only major industrial nation in the world that allows deductions on mortgage interest, he said. "We are suffering from a growing gap between our expectations of what we want to get out of our economy and our real ability for the economy to supply it." "We're trying to subsidize everybody at the expense of everybody." Nevertheless, Kahn said some of the Reagan administration's budget cuts were "outrageous." The administration has failed "to distinguish between investment and consumption," he said. By cutting food stamps and subsidized day care, for example, the government takes away a poor working mother's incentive to work.' Working mothers will leave the job market for welfare benefits under the Reagan administration, Kahn said. Supplying food stamps and low-cost day care would be investment in this instance, he said. Kahn's speech was sponsored by the University Lecture Series. Kahn's lecture will be screened twice this week by the economics department. Call the department for details. Miami Hurricane/BOB ANTHONY The Coral Gables Rescue Squad helped an unidentified UM student who suffered from a shortage of breath outside of the Riehter Library Friday. The Coral Gables Police, who had arrived first on the scene, assisted with the administration of first aid. Football Coach Praises Fraternities By LOURDES FERNANDEZ Head Newa Writer Coach Tom Olivadotti, defensive coordinator for the Hurricanes, was the highlight of the Third Annual Interfraternity Council Banquet held last Wednesday at the Faculty Club. Also on the banquet's program wa.s an awards presentation and installation of the new IFC officers The original guest speaker. Head Football Coach Howard Schnellenberger. was unable to attend because he was snowbound in Chicago, where he was recruiting. Olivadotti, Schnellenberger's replacement, thanked the fraternities for their support of the football program. "You're the backbone of our school spirit," Olivadotti said. "Your attendance at the games is important. In fact, your support at the Florida game helped us win." Olivadotti also thanked the fraternities for letting those in charge of recruiting attend fraternity parties in order to scrutinize possible recruits. "We have to see the young men we're recruiting in every social aspect," he said. "We turned down one guy based on his actions in a fraternity party. He had a deep severe ego problem . . . besides, he wasn't that good a player." Lastly, Olivadotti expressed his gratitude towards the fraternities for their positive influence. "It's easy to be negative on a col lege campus, since its the easy way out. But, we've had your continued support and commitment. Without your help we just can't make it," said Olivadotti. Olivadotti's speech was followed by an awards presentation. One award given during the evening was the Plato Award, a prestigious honor bestowed' td a fraternity member that has contributed much of his time to the greek system at the University of Miami. This year, the award was given to Edward Pozzuoli, 1981-82 IFC president, member of Lambda Chi Alpha and many other student organizations. The 1982-83 members of the IFC executive council were inducted by Craig Mattox, 1981-82 IFC vice- president. The new executive council consists of Larry Baum, president; Mark LeFerrara, vice-president; Scott Batcheller, treasurer; Bill Dykes, secretary; and Craig DuBois, member-at-large. Miami Hurricane/STU BAYER. Former Carter Aide Allied Kahn Spanish Leader Tells Problems Of Spain, Europe <:°aeh Tom Olivadotti At IFC Banquet Miami Uumcane/tLISA OLDKRMAN I By MARY CRONIN Head News Writer At age 70, Lieutenant General Manuel Gutierrez Mellado has seen a great deal of change in Spain and has contributed to that change. A former Vice President of the Spanish Government from 1976 to 1981, he was appointed by King Juan Carlos I and President Adolfo Suarez. As the Minister of Defense from 1977 to 1979. Mellado was cited for his opposition to the attempted coup last February in the Spanish Parliament. During that encounter, he rose in defiance of the coup members to show that Spain's armed forces did not support their movement. Despite his firm denial that he has ever been a politician, Mellado bas often worked within Spain's political ranks and was a co-signer of thp Spanish Constitution. Mellado's military career began at the Military Academy of Zarago- za in 1929. and he fought in the Spanish Civil War. He is well known in Spain for having restructured the Ministries of the Army, Navy, and Air Force into one Ministry of Defense. While at UM to speak at a symposium on "Spain and America," Mellado was interviewed about the future of Spain and his involvement in its history. Hurricane: Do you feel that the armed forces will accept the entry of the Spanish government into NATO? Can the Spanish forces be properly integrated into NATO ? Mellado: I think that they |the armed forces| are in perfect condition for integration into NATO. It can'l be done overnight, though. There would be negotiation, then discussion, then a gradual adaptation into NATO. In any case I think it will depend heavily on the negotiations, as it would for any European organization. We won't enter into it with blind eyes; it will be negotiated and it has to be beneficial for the two sides. Hurricane: All of Europe, including Spain, is having a difficult time coping with unemployment. What is being done in Spain to combat the problem? Mellado: That is a priority problem. I believe that important agreements have been made between the government and opposition groups to try to solve it. I consider it difficult, however, to solve the Spanish crisis if it isn't done as a function of the international crisis. But. if the important nuclei — the employers, workers, government and syndicates — cooperate, and if they all want to solve the problem, it can be done little by little. The immediate future is a bit brighter, but it is a very difficult question. Hurricane: Do you think that the regionali/.ation of Spain in the long run is beneficial to the democracy? Mellado: The problem with the autonomies is important. It's being done bit by bit with great difficulty. I think there is a necessity and a desire to reach an agreement. On the other hand, Spain has known autonomies, reigns, different regions, and nationalities. That word |autonomy| that has been discussed in detail in the constitution has had its days of splendor in the past. The problem is to give the autonomies certain powers and decisions, while maintaining to the state those matters necessary to the state. Autonomy is one thing, separatism is another. The majority of Spaniards admit that autonomy i* good but we don't permit separatism. There are always minorities that take advantage of autonomy to go too far and that is not accepted, and others who would like to see everything centralized. The balance that we have to attain is difficult, but we are getting there. Miami Hurricane IGIN A MOLINARO Mellado Hurricane: As there appears to be a considerable amount of strife in Spain's ruling party, the UCD (Union of Democratic Center), do you think its time as a ruling party has ended? Mellado: First, I am not a politician and I don't belong to UCD, although I have been part of UCD' governments in which I was responsible for and in solidarity with what the governments did. That question is a matter for prophets and I am not a prophet. But, I do believe that UCD is an important political ower that has its ups and downs, but I don't dare predict what will happen. Hurricane: What about the possibility of Spain becoming a Socialist nation? Felipe Gonzalez (the head of Spain's Socialist Party) is very popular right now. Mellado: We check all that France does because they are very close to us. We check the Socialist experiment and everything else because it concerns us as France is one of our neighbors. But we are sometimes not very happy with what they do. Concerning Felipe Gonzalez and the particulars of the Socialist party, it's the same as before — it's an important power |France) and Gonzalez's Socialism is also, but we don't know what can happen. In such an important country such as the United States, with the electoral predictions, I remember that the public predictions and opinions have failed many times. Hurricane: What of Gibraltar, and the current Spanish position orl I don't know what can happen if Spain enters NATO, but I can say that the decision that Spain keep Gibraltar is permanent and continues in Spain, with all due respect to the inhabitants of the region. Note; The interview mu conducted in Sptm* tak, and (he translation of the Lieutenant General's, answers was done by Conv Editor Charles Lavin. vy \ |
Archive | MHC_19820209_001.tif |
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