This Day In 1970's History: Tuesday February 15, 1977
- An agency empowered to limit health care costs has been proposed by the Department of Health, Education and Welfare, according to administration sources. The plan is reported to have the approval of the Office of Management and Budget. On receiving authorization from President Carter, it would require all hospitals to operate on budgets, with prices to be increased only with the new agency's advance approval. Congressional approval would also be needed for this plan to halt inflation in the health industry. [New York Times]
- Vice President Mondale, who sees his role as the President's across-the-board adviser and troubleshooter, is currently working hard on "effective relations with Congress," he told the New York Times. He said that if Congress added another $5 billion to the President's $31 billion package to stimulate the economy it would be getting close to too much for Mr. Carter to accept. Backing the twin goals of agreement on arms with Moscow and speaking out on human rights, he said some other governments showed greater sensitivity to American pressure on the issue of rights. [New York Times]
- A warning from the Congressional Budget Office said there might be a conflict among the economic goals of the Carter administration -- a balanced budget, full employment, new social programs -- unless the nation can achieve an unusually high growth rate of more than 5 percent annually. The growth rate for the last quarter was 3 percent. The office said that even then there are serious doubts that the nation can afford the full national health insurance program promised in Mr. Carter's election campaign. [New York Times]
- A staff investigation by the Securities and Exchange Commission has in its preliminary stage been severely critical of both high New York City officials and officials of major banks who coordinated their activities at the outset of the city's financial crisis. No punitive action is contemplated, but the preliminary findings may have significant political ramifications. [New York Times]
- Stock prices advanced moderately, with Dow Jones industrials gaining 5.99 points to close at 944.32. Corporate bonds advanced but then lost their gains late in the day. [New York Times]
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