ABSTRACT
That is why I am alarmed at the horrendous contradiction between what you practice and what you preach. Since you took office over a year ago, you have given the economy the biggest battering it has received at the hands of any president on record save Herbert Hoover. You named inflation as the Number One enemy. With truly awesome sangfroid, you presided over the asphyxiation of the private and public economy by blocking the fiscal and monetary air supply. The resulting prostration separated some 10 million people from their jobs, put 32 percent of our industrial plant out of commission, wrecked the auto industry, brought construction to a standstill, piled the highest load of debt on businesses in history, and carried cities to the brink of bankruptcy. As a result of your deliberately engineered recession, we are losing some 230 billion dollars in potential production, which comes to one thousand dollars for every man, woman, and child in the country. When George McGovern proposed a demogrant of one thousand dollars per person in the presidential campaign of 1972, he was laughed off the stage as a harebrained dreamer. How are we to react when this same thousand dollars per head is thrown down the drain by deliberate calculation?
