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Lawmakers - February 11, 1982 - Federal Reserve
General shots of a meeting of the House Banking Committee. Paul Volcker, Federal Reserve Chairman, testifying, Pumping up the money supply cannot be the answer to that problem. Excessive money and the inflation it breeds are the enemies of the real savings needed to finance investment. Without action to cut spending, or if that fails, to raise new revenue, we would face the prospect of deficits rising to unprecedented amounts whether measured in dollars in relation to the GNP or as a proportion of our limited savings and the supply of loanable funds.
Lawmakers - February 11, 1982 - Federal Reserve
Shot of a chart prepared by Federal Reserve, shows lines for interest climbing toward a hefty 16%, inflation falling to below 10%. Pull out to general shot of a meeting of the House Banking Committee.
Lawmakers - February 11, 1982 - Federal Reserve
Representative Mary Rose Oakar (D - Ohio), We re seeing our small farms go under. We re seeing our small businesses go under. We re seeing traditional jobs eroded. We re seeing an increase in divorce. We re seeing an increase in mental illness. We re seeing crime. We re seeing an increase in suicides. How long are the American People supposed to wait? Because some economists think that when you bring down the inflation rate by a percentage or two, you sacrifice 3 million more jobs. How long are the people supposed to wait?
Lawmakers - February 11, 1982 - Federal Reserve
Representative George Hansen (R - Idaho), says This persistence of high interest has now spanned two administrations and they re blaming you and your organization more than anyone else for this dilemma. Because so much depends on the Fed I m trying hard to defend you and the monetary policy you are trying to implement, but time is running out. And these people need help immediately.
Lawmakers - February 11, 1982 - Federal Reserve
Paul Volcker, Federal Reserve Chairman, testifying, Our analysis suggests that the probabilities are that a recovery will begin before the middle of the year; it could be some months before the middle of the year. I also stated I think there are some risks as there always are in any economic forecast. Closeup of Volcker s hands, he's smoking a cigar.
Lawmakers - February 11, 1982 - Federal Reserve
Representative Barney Frank (D - Massachusetts), says Things aren t working out as well for this administration as we had all hoped things would economically. And I think we re seeing a tendency towards scapegoat. And I think from time to time you become one of the scapegoats. And I m guessing is that we see occasionally when things go bad, when real investments aren t what they are projected to be, what they re supposed to be, somebody takes a whack at you, and I m wondering what that is Paul Volcker, Federal Reserve Chairman, I don t recall any time - just to answer your question directly - that they ve come to me and said you re being too tight or you re being too easy. Representative Barney Frank (D - Massachusetts), What s your reaction when we see from time to time as I m sure you ve seen, these newspaper comments that tend to blame the Federal Reserve Board that the economy isn t performing better on the part of the administration? Paul Volcker, Federal Reserve Chairman, Well, the Federal Reserve has been around for quite a long time and I think Congress in its wisdom provided a degree of independence and insulation perhaps recognizing that these, comments of this sort from an administration or from a Congress occasionally arise.
Resort Fashions
GV lawn of the Roney Plaza Hotel with palm trees & impressive tower dominating the BG, woman enters the scene posing in wide brim straw sun hat and shorts ensemble. MS woman in orange dress, white pillbox hat & gloves posing in front of sea wall.
Resort Fashions
MS woman in summer shorts ensemble posing in front of the Roney Plaza Hotel with her wide brim straw hat. MCU tilt of woman posing in her green shorts, palm trees seen in BG.
Resort Fashions
GV glamorous woman leaning against a palm tree in red dress and long coral necklace, she twirls the strand of beads and poses, beach cabana seen in FG. MCU woman in red posing.
Resort Fashions
GV stone arch to villa or historical site, woman seen exploring in her yellow hue day dress.
Miami Beach
Miami Beach TLS shopping district with street lined with shops, canopies and 1950s era cars parked at the curb. Low angle CU art deco sign on entrance to building reading "Miami Fashion Council"
Ladies' Day
Stationary MCU well-dressed woman in Goodyear tire store, apparently listening to salesman talk (you can see his hand in corner holding up huge whitewall tire behind her), she nods patiently, then raises finger to chin as if trying to figure something out.
Ladies' Day
MCU woman standing next to car w/hood open, talking to male gas station attendant dressed in uniform w/cap, he is checking the oil. CU white gloved hand receiving coin change from the filthy hand of mechanic. Nice rear MCU of grey haired female driver sitting in convertible, she taps the steering wheel impatiently as she watches two men talking to each other, they are apparently ignoring her. MS male service station attendant talking to woman in front of 1953 Chevrolet Bel Air coupe with open hood.
Ladies' Day
GV station attendant standing next to Bel Air coupe at gas pump, he talks to woman behind the wheel and gives her a "good day" salute as she starts to drive away. GV male gas station attendant giving a "good day" salute to man in a 1953 Cadillac Eldorado convertible w/top up as he pulls away from pump.
Ladies' Day
GV 1953 Cadillac Eldorado parked at the pump, man driving gives a nod as he pulls away, once driver is gone a male station attendant meets mailman on street. Similar shot repeated.
Ladies' Day
MCU station mechanic inside shop standing in front of white wall tire & Goodyear products while talking to woman, he seems to be explaining something patiently then turns to camera w/ a big smile as if he blew a line.
Lawmakers - February 11, 1982 - Budget Debate
Paul Duke introduces segment on House measures to help as poor people are hurt during a cold winter by unemployment.
Lawmakers - February 11, 1982 - Budget Debate
Linda Wertheimer intro report on appropriations to reinstate funds for programs cut in 1981 - unemployment benefits and heating subsidies for the poor.
Lawmakers - February 11, 1982 - Budget Debate
Representative Joseph McDade (R - Pennsylvania) in debate on floor of Congress, I ve checked with my own state people. I know from my own experience in my own district, there are people out there having to make decisions sometimes on whether to heat their homes or to eat. It s that bad.
Lawmakers - February 11, 1982 - Budget Debate
Representative Silvio Conte (R - Massachusetts). Representative Olympia Snowe (R - Maine), In my state of Maine, 13,000 households were denied funds this year because of the cutbacks. And secondly, we ve cutback the overall payments made to individuals from $600 in the last fiscal year, to $350 this fiscal year.
Lawmakers - February 11, 1982 - Budget Debate
Representative James Jeffords (R - Vermont), My state s out of money right now for their people in this program and we need it.
Lawmakers - February 11, 1982 - Budget Debate
Shot of rostrum of House Chamber.
Lawmakers - February 11, 1982 - Budget Debate
Representative Bob Livingston (R - Louisiana), I have no illusions as to the outcome. I know that this bill will be passed, but I am concerned that we are taking 123 million dollars of taxpayer money - it s not government money - taxpayers dollars, and simply sending them to areas that don t necessarily need them.
Lawmakers - February 11, 1982 - Budget Debate
Representative Silvio Conte (R - Massachusetts) Some people argue that there is not a need for additional funds. This is just not true. Let s look at some other facts, Department of Health and Human Services estimates that there are 21 million eligible households in this country that should receive assistance under this program. It s estimated also, but the Department of Health and Human Services that fewer than 8 million households will actually be served due to insufficient funds.