CBS Evening News - 1977-05-03
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Read a transcript preview of “CBS Evening News - 1977-05-03” from malgent, uploaded on 2024-09-04.
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Language: English (original, YouTube automatic captions)
[0:04] This is the CBS Evening News with Walter
[0:07] Cronkite.
[0:09] Good evening. Energy chief James
[0:10] Schlesinger went before a Senate
[0:12] committee today to start the Carter
[0:14] energy plan through Congress.
[0:16] Schlesinger urged that the complex
[0:18] package of more than a hundred pieces of
[0:20] legislation be treated as a whole, not
[0:23] picked apart piece by piece. Nelson
[0:25] Benton reports. It was the opening round
[0:28] in Congress for the Carter plan and
[0:30] energy chief Schlesinger anticipated
[0:33] some obstacles. Mr. Chairman,
[0:36] at the outset of developing this plan, I
[0:38] observed
[0:40] that we did not expect to please
[0:42] everybody.
[0:44] I have now concluded that we cannot
[0:46] please anybody.
[0:49] Schlesinger told senators the Carter
[0:51] conservation program of higher prices
[0:53] through a system of energy taxes and tax
[0:55] rebates might slow the economy
[0:57] initially. The long-run economic effect
[1:00] would be neutral, he said, and failing
[1:02] to act could mean disaster.
[1:06] In the 1980s, we would face severe price
[1:09] inflation, unemployment, balance of
[1:11] payments difficulties of a magnitude
[1:13] that we have not known or have not known
[1:16] since the 1930s.
[1:18] The real incomes of consumers, of
[1:20] citizens as a whole, will be held whole.
[1:24] Some citizens
[1:26] may
[1:27] suffer somewhat, but the bulk of the
[1:29] citizenry will not in any way be damaged
[1:33] by this.
[1:34] Controversial standby gasoline taxes
[1:36] were a prime topic at the blue collar
[1:38] caucus, members who made it to Congress
[1:41] from blue collar jobs. The Carter plan
[1:43] would add a nickel per gallon each year
[1:45] conservation targets are not met.
[1:48] I go through the barrooms and the
[1:49] restaura