... But Mr. Ford Is on the Right Track
So far. so good: President Ford lias made all of the right moves as he takes charge of the nationÛªs pressing economic problems, including a call for a summit on inflation ÛÏin full view of the American public,Û and a sharp rebuff to General Motors for an outrageous pnee increase on 1975 cars.</br></br>To bo sure, the hard decisions lie ahead, including what kinds of spending cuts will be made if the defense budget is to be held sacrosanct. And the President will have to infuse new life in his economic team if it is to make any progress beyond useless incantations on the ÛÏold time religion.Û</br></br>Beyond that, the President will sooner or later have to bite the bullet on wage-price restraints of a formal nature. A restored Cost of Living Council to monitor wage-price abuses will help. But without enforcement powers, the President will be reduced to ÛÏjawboningÛ with declining effectiveness.</br></br>One of the keenest observers of the economic scene in Washington has counseled the new President that he has onl-v three months to come up with answers that will prevent a breakdown of the economic system.</br></br>But a new and hopeful mood in "Washington is a palpable thing. Once again, there is a fulltime President in the White House, apparently ready to provide the leadership which has been so painfully, absent. Plainly, he gives mare than an ÛÏexpletive deletedÛ about economic affairs.