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Friday December 4, 1970
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This Day In 1970's History: Friday December 4, 1970
  • President Nixon will make his address on the economy tonight. In a reversal of policy, Nixon wants deficit spending for the next two years. The President also wants oil prices to drop, federal mediators to pressure labor unions for smaller wage increases, and ease of credit to help reduce unemployment. [CBS]

  • The Labor Department reported that the unemployment rate was up 0.2% to 5.8% last month; manufacturers were hit hardest. Average earnings were down 66 cents a week. Negro unemployment was down, but the rate was up for whites; women were hit hard too. The AFL-CIO and Democrats are demanding changes, but the White House says it won't change policy and also pointed out that the defeat of the supersonic transport by Democrats in the Senate hurt the employment situation. [CBS]

  • British diplomat James Cross said that the worst part of his captivity was not seeing the sun for 60 days. Police are seeking information on his kidnappers, and they probed the house where Cross had been held. [CBS]

  • A conspiracy to kidnap government officials was uncovered in Ireland; as a result, suspects can now be jailed without trial. The action is aimed at the IRA. [CBS]

  • New York City police arrested six members of the SDS-Weather Underground following an attempted bank robbery. [CBS]
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