This Day In 1970's History: Monday January 26, 1976
- A reduction of nearly $500 million in military and economic aid to Israel in the next fiscal year is planned by the Ford administration. This has reportedly surprised Israeli officials on the eve of Prime Minister Yitzhak Rabin's visit to Washington. [New York Times]
- President Ford and his Council of Economic Advisers, citing the danger of renewed inflation, advocated in the President's economic message to Congress an economic policy that they contended would offer a safe and sure route to full employment. In doing so, they firmly rejected a national economic policy, advocated by many Democrats, that would be aimed at a rapid return to full employment. [New York Times]
- Over the strong dissent of its two most liberal Justices, the Supreme Court ruled that the Constitution does not require law enforcement officials to obtain arrest warrants before they make arrests in public places, even when there is adequate opportunity to obtain a warrant. [New York Times]
- In its report on how the Central Intelligence Agency spends its share of the annual $10 billion federal intelligence budget, the House Select Committee on Intelligence has found that the C.I.A. dispenses with competitive bidding in more than eight of every 10 contracts it awards to private industry. The report said that the agency entered into "hundreds of millions" of dollars worth of such contracts each year. [New York Times]
- The Ford administration and William Colby, Director of Central Intelligence, charged that leaks of the House Intelligence committee's report on the intelligence activities violated an agreement between the committee and the executive branch. Mr. Colby, who was questioned at a news conference about excerpts from the House report published in the New York Times, said, "The committee seems neither able to keep secrets nor its agreement," and he denied a number of allegations in the report. [New York Times]
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