This Day In 1970's History: Friday December 20, 1974
- Some of President Ford's economic advisers are projecting a huge budget deficit -- as much as $35 billion -- for the next fiscal year even without the income tax cut that is under intense debate within the administration. [New York Times]
- The Labor Department reported that consumer prices rose nine-tenths of 1 percent in November. This, combined with a reduction in weekly pay because of a cut in average hours worked, brought a record drop of 1.7 percent in the workers' "real" after-tax incomes. [New York Times]
- John Wilson, the chief defense lawyer for H.R. Haldeman, in his final argument before the jury at the Watergate cover-up trial said that the prosecution's chief witness, John Dean, was a "mastermind of chicanery" and a "perjurer." He told the jurors not to believe Mr. Dean's testimony, and he challenged the government's case in a number of other areas. [New York Times]
- The 93d Congress adjourned tonight after giving approval to a foreign trade bill that rewrites the nation's basic trade law for the first time in 12 years, and to several less significant measures. The Senate approved the trade bill, which was a compromise, by a vote of 72 to 4. The House adopted it by 323 to 36. President Ford's signature is believed to be certain. The adjournment was the calmest in many years, free of the tendentious wrangles that often mark the last days of a session. [New York Times]
- In a historic decision that is believed certain to be appealed, Federal District Judge William Sweigert in San Francisco ruled that the National Football League's contract and player-reserve system is illegal. In an antitrust suit brought by Joe Kapp, a former Minnesota Vikings quarterback, Judge Sweigert said that the league's "Rozelle" rule under which the N.F.L. can perpetually restrain a player's employment choice was "patently unreasonable and illegal." [New York Times]
|
