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We must continue the recovery and further cut unemployment and inflation. Last year was a good one for the United States. We reached all of our major economic goals for 1977. Four million new jobs were created, an alltime record, and the number of unemployed dropped by more than a million.
During my Administration, health services to the poor and underserved have been dramatically increased. The population served by the NHSC has more than tripled since 1977. The number of Community Health Centers providing services in high priority underserved areas has doubled during my Administration, and will serve an estimated six million people in 1981.
Greece is favourably placed for TEP to countries in Africa where there is considerable amateur radio activity, like Zimbabwe and the Union of South Africa. So towards the end of 1977 SV1AB and SV1DH began looking for colleagues in suitable geographic locations with the appropriate equipment and the time and inclination to engage in tests which could go on for months and months on end.
This change corrected for shortcomings in the adjustment formula contained in the Food and Agriculture Act of 1977. The food and agricultural policies adopted by this Administration over the past four years, including those described above, will provide a firm foundation for future governmental actions in this field.
When the decision was made to operate the series of flights to take place at the end of 1977 a change was made with the approval of the Civil Aviation Division to permit flights below 16,000 feet down to 6,000 feet in a specified sector south of Ross Island and subject to such criteria as a cloud base no lower than 7,000 feet, clear visibility for at least 20 miles and descent under ground radar guidance.
Most people know by now that SV1DH was one of the principal stations involved in the very successful Transequatorial propagation tests which took place during the 21st sunspot cycle between 1977 and 1983. In October 1976 there was a rumour that 145 MHz signals had been heard directly between Argentina and Venezuela.
In the part that sound water resource projects play in providing irrigation, power, and flood control. We must also recognize the special needs of particular regions of the country in evaluating the need for additional projects. The Global 2000 Report to the President, prepared in response to my 1977 Environment Message, is the first of its kind.
In 1977, the Ohio members of OCLC adopted changes in the governance structure that enabled libraries outside Ohio to become members and participate in the election of the Board of Trustees; the Ohio College Library Center became OCLC, Inc. In 1981, the legal name of the corporation became OCLC Online Computer Library Center, Inc.
I must, therefore, recommend a three-tenths of 1 percent increase in both employer and employee social security taxes effective January 1, 1977. This will cost each covered employee less than 1 extra dollar a week and will ensure the integrity of the trust fund. As we rebuild our economy, we have a continuing responsibility to provide a temporary cushion to the unemployed.
Established economic theory pioneered by Merton in 1977 shows that, counterintuitively, the closer a bank is to insolvency, the more inclined it is to risky lending. Nobuhiko Hibara of Columbia University demonstrated this effect convincingly in the Japanese banking system in his November 2001 draft paper titled "What Happens in Banking Crises Credit Crunch vs. Moral Hazard".
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