CBS Evening News - 1983-02-16
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Read a transcript preview of “CBS Evening News - 1983-02-16” from malgent, uploaded on 2026-02-18.
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Language: English (original, YouTube automatic captions)
[0:02] Good evening. This is the CBS Evening
[0:04] News. Dan Rather reporting tonight from
[0:05] Los Angeles. The latest numbers on the
[0:08] nation's industrial production and new
[0:10] housing starts today gave President
[0:12] Reagan something to crow about. But when
[0:14] it comes to a final deal on a jobs bill,
[0:16] Democrats in Congress are not about to
[0:18] let the president peck them aside and
[0:20] crow about that, too, at his news
[0:22] conference later tonight. Congressional
[0:24] correspondent Phil Jones has more on the
[0:25] figures, both political and economic.
[0:29] Just as the Federal Reserve chairman was
[0:30] sending signals across Capitol Hill that
[0:33] recovery would continue to be weak,
[0:34] conflicting new and dramatic signals
[0:36] were coming from elsewhere. Housing
[0:38] starts for January rose almost 36%, the
[0:42] highest rate of new starts in more than
[0:44] 3 years. And building permits were up
[0:46] about 16%, signaling the intention of
[0:49] builders to keep the housing boom going
[0:50] for the rest of the year. And the
[0:52] nation's factory production jumped
[0:54] 9/10en of 1%. A sharp improvement and a
[0:57] signal considered by many to be the best
[0:59] yet that the recession is ending. On
[1:02] Capitol Hill, members of a Senate
[1:04] Banking Committee convinced that
[1:05] interest rates are unnecessarily high,
[1:08] that banks are taking advantage of
[1:10] Americans, were looking for good news
[1:12] from the Federal Reserve. But instead,
[1:14] they were told that the money market may
[1:16] get even tighter. Money in its various
[1:18] definitions should grow less this year
[1:21] than last. After having gone through all
[1:24] the pain that we've gone through
[1:27] and see the