John F. Kennedy
John F. Kennedy was president during this time period and we were under Democratic leadership. Kennedy's first year in office brought him considerable success in enacting new legislation. Congress passed a major housing bill, a law increasing the minimum wage, and a bill granting federal aid to economically depressed areas of the United States. The most original piece of legislation Kennedy put through Congress was the bill creating the Peace Corps, an agency that trained American volunteers to perform social and humanitarian services overseas. The goal of the Peace Corps was to promote world peace and friendship with developing nations.However, after his initial success with Congress, Kennedy found it harder and harder to get his programs passed into law. Although the Democrats held a majority in both houses, Southern Democrats joined with conservative Republicans to stop legislation that they did not like. The Medicare bill was defeated, a civil rights bill and a bill to cut taxes were debated. Kennedy wanted economist Robert C. Weaver to be the new secretary but this nomination was poorly received from Southern Congressman and representatives from mostly rural areas because weaver was a black man.
1 billionb omnibus tax reduction and reform bill, but passage appeared assuredly by summer 1964 or so. 05 in fiscal year 1961, congress responded to the President's request and increased the national debt ceiling for 1962 from the permanent level of $285 billion to $298 billion. Kennedy proposed a program designed to fulfill our responsibility to alleviate distress and speed recovery, both through benefits directly available to needy persons and through desirable fiscal effects on the economy. It was reported three days later and passed by the House by a roll call vote. Kennedy proposed measures both to alleviate the distress arising from unsatisfactory performance of the economy and to stimulate economic recovery and growth. This could have been accomplished with readily available manpower, materials and machines, without straining productive capacity and without igniting inflation. Although passed by the Senate and reported by the House Education and Labor Committee, the bill was blocked from reaching the House floor in 1963 by the House Rules Committee's failure to grant it a rule for floor debate. In both formulations deficits are viewed as temporary since the rise in national income is expected to bring an increased yield which will eventually balance the government budget. Many of these expenditures will automatically cease when high employment and production are restored. To increase the flow of credit for these proposed, long term interest rates should decline. Tax revision was Kennedy's top priority legisllative request in January, and shared that position with civil rights after mid-year. He used this report to amplify the economic philosophy that the Federal Government has a reponsibility to play an active role in fostering and sustaining the nation's economic growth.
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