Herter Defends Ike's Economics, Concedes Small Business Issue
At Business School
Governor Christian A. Herter '15 yesterday gave unqualified praise to the Administration's economic policies, except in the area of small business. There, he conceded, the Democrats have valid reason to criticize.
He added, however, that President Eisenhower was "very concerned with the problem of small business failures."
In an unprepared speech at the Business School, the Governor stated that not weapons, but a balanced budget, was the "country's strongest national defense in the long run."
Herter said that the present Administration had balanced the budget, but that it was under attack for not spending enough money on social and humanitarian services. Spending more money for such things as schools, social security, and public power "would obviously mean either an unbalanced budget or higher taxes," the Governor said.
"Somewhere, someone has got to say 'no' to the question of government spending," he stated.
The Massachusetts Governor told the enthusiastic Business School audience that economic policies determined in the political arena "can have a tremendous bearing on your individual fortunes."
He commented that the dollar had depreciated over 40 per cent in value over the past 20 years.
"If I have appeared partisan in my remarks," Herter said, "it is because I frankly believe that the present Administration has been operating on a very sound economic policy."