President Outlines '76 Plans In State of the Union Address

President Ford, urging a "new balance to our economy," called for a $10 billion cut in income taxes and a $4 billion increase in social security taxes in last night's State of the Union Address.

Ford proposed a federal budget of $394.2 billion--$28 billion less than would be necessary if present programs remained unchanged.

Ford also proposed Medicare coverage for catastrophic illness, additional housing assistance, and tax incentives for purchases of common stock.

Intelligence

He recommended support of the CIA, promising that, "in the near future, I will take actions to reform and strengthen our intelligence community."

Ford also condemned violent crime and hard drug abuse during the hour-long talk. He recommended the hiring of 500 federal agents to aid local police forces to "stop criminals from selling and using hand guns."

Ford asked for an increase in military spending and stronger controls on welfare and food stamp spending.

Richard J. Zeckhauser, professor of Political Economy, said after the address he thinks "Ford was laying out the themes for his nomination and election campaign."

Circus

Stephen A. Marglin '59, professor of Economics, after listening to Ford, said "I wish I'd watched Piccadilly Circus."

Marglin said he was angry but not surprised by Ford's emphasis on economic matters. He said, "The only way Gerald Ford can conceive of people having more control over their lives is to have more money to spend."

Andrew F. Brimmer, Ford Foundation Visiting Professor of Business Administration, said he was "disappointed" with Ford's speech. "There was nothing in his program to reduce the unemployment rate below its current level."