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Thursday December 9, 1976
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This Day In 1970's History: Thursday December 9, 1976
  • Strikingly similar proposals for ending the economic slowdown were made to President-elect Jimmy Carter by the heads of 15 major corporations and the Carter transition staff. Both groups proposed tax reductions for individuals and businesses and a new government spending program whose purpose would be to directly create jobs. The transition staff's program would cost $20 billion, and the corporation executives' proposals would cost $23 billion. [New York Times]

  • A vast development agency for the Northeast is looked on favorably by President-elect Carter. He made this known to eight governors from the region who met with him in Washington to discuss the renewal of the Northeastern economy. [New York Times]

  • A major investigation of South Korean influence peddling on Capitol Hill was urged by House Democrats in a unanimous vote of the 292-member Democratic caucus. Technically, the resolution could count only as a recommendation since the full House must vote on the issue. But the Republicans have been calling for an investigation for months and it seemed certain that the resolution would be adopted next month. [New York Times]

  • Stock prices advanced over a broad front as the American Telephone and Telegraph Company traded at its highest price in a decade -- as high as 63⅝ before closing at 63½ for a gain of ⅝. Credit markets declined in light trading. Bond prices recovered with the announcement by the Federal Reserve of a $2.7 billion increase in the nation's money supply. [New York Times]

  • Job prospects for college graduates will be better next year than last June and certainly better than the year before. This is indicated by the sharply increased number of campus interviews many of the country's large corporations scheduled this year. [New York Times]
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