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Wednesday December 1, 1976
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This Day In 1970's History: Wednesday December 1, 1976
  • Jimmy Carter was pessimistic about the immediate future of the economy after a discussion with a panel of advisers. He also met Tuesday night and this morning with Cyrus Vance, presumably to discuss the possibility of a high government post for him, The President-elect also discussed government reorganization with another panel of advisers. [New York Times]

  • A Georgia Democrat closely allied with Mr. Carter predicted that the President-elect would move early in his administration toward federalization of welfare costs. This could save New York City $500 million a year. [New York Times]

  • Gas bills are up an average of 6.5 percent all across the country following a Federal Power Commission decision in October to let producers charge much more. [New York Times]

  • Economic indicators for October compiled by the Department of Commerce gave no clear signal after six months of very sluggish growth. A spokesman for the Council of Economic Advisers said the official forecast continued to call for a better growth rate in the first quarter next year. [New York Times]

  • Stock prices registered a moderate advance, with Dow Jones industrials gaining 2.16 points to close at 949.38. Bond sales reflected the continued decline in interest rates as the market surged upward again. [New York Times]
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