The Economy: Nixon's Grand Design for Recovery

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If, in the end, the New Economic Policy is a failure, then John Connally's brightening star will surely fade, Shultz could re-emerge with new political clout, and Spiro Agnew—who was consulted in the New Economic Policy deliberations, as he never was about the overtures to Peking—would find himself no longer threatened by Connally for the vice-presidential nomination in 1972. In that case, however, even the Republican presidential nomination would be worth very little, for Nixon's best chance to get the U.S. economy under control would have failed.

In the dismal and difficult science of economics, one of the most important factors is the elusive matter of the public mood. Already there is an indi cation that Nixon's program is what Americans think they want. Pollster Sindlinger's consumer confidence index had climbed back to 64% by the middle of last week. Now 40% of Sindlinger's sample want Nixon reelected. The White House men are guardedly optimistic. Says one: "Economics isn't chemistry. You can take any theory you've got. If people think it's going to work, it will work. If they don't, it won't." If it does work, Nixon's program will pay off politically for him, and economically for most Americans.