Expanding Social Security in U.S.A.

Chronicle (Levin), 31 December 1949, Page 5

Expanding Social Security in U.S.A.

Received Friday 8.30 p.m. WASHINGTON, Dec. 29." " The TJnited States could alford a considerably exp&rrded social security programme without impairing its economie Stability or weakening its growth potential, said the Coxmcil of Economie Advisers in its report to President Truriran today. The report recommended that the uitimate obiective should be toward mak* ing social security vithdrawals from the economy roughly balanee the contemporary cost of benefit pavments.. "We also believe that as coverage becomes more general the larger part of social security receipts should be obtained th rough the general revenues rather .than pavroll taxes, " the report added. The Council summarised the trends in the Government 's attitude toward business as: — Firstlv: The firm conviction that the Whole American economy could and should continue to grow. Sfecondly: The realisation that efforts to promote expansibn of total production and income of economy were more significant than measutes to "redistribute" current production. Thirdly: A fuller realisation that the flow of income to different parts of the economy should be viewed as an economie no less than a social problem. Fourthly: An affirmative approaeh ^ to business in place of a purely negative of policing function. Fifthlv: A trend away from specific controls over business. Sixthly: Greater reliance on private enterprise in promoting stability and growth.