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Updated: June 24, 2025
From 400 in 1914, the membership mounted to 40,000 in 1919 that is the number represented today in the Irish Textile Federation. With the growth in strength the federation made out its cost-of-living budget, and presented its case to the Linen Trade Employers. At last the federation succeeded in obtaining this rate: "Spinners and preparers, $7.50 a week. "Weavers and winders, $7.50 a week.
In other words, the Federal Government will hold the line on real spending. Now, that's far less than many American families have had to do in these difficult times. I will request that the proposed 6-month freeze in cost-of-living adjustments recommended by the bipartisan Social Security Commission be applied to other government-related retirement programs.
In terms of percentages we may find the cost-of-living index for food increased by more than 8 percent, which in turn would result in more than a 3-percent increase in the cost of living. If prices of food were allowed to increase by these amounts, I must make it clear to the Congress that, in my opinion, it would become extremely difficult for us to control the forces of inflation.
After considering cost-of-living increases in recent years, it is little more than a 10-cent increase over the present legal minimum. In fact, if any large number of workers earn less than this amount, we will find it impossible to maintain the levels of purchasing power needed to sustain the stable prosperity which we desire.
In other words, the Federal Government will hold the line on real spending. Now, that's far less than many American families have had to do in these difficult times. I will request that the proposed 6-month freeze in cost-of-living adjustments recommended by the bipartisan Social Security Commission be applied to other government-related retirement programs.
Common sense tells me to stick to that steady course. Take the state of our economy. Last January, most things were rapidly getting worse. This January, most things are slowly but surely getting better. The worst recession since World War II turned around in April. The best cost-of-living news of the past year is that double-digit inflation of 12 percent or higher was cut almost in half.
When Carl returned from the East in January, he was more rushed than ever his time more filled than ever with strike mediations, street-car arbitrations, cost of living surveys for the Government, conferences on lumber production. In all, he had mediated thirty-two strikes, sat on two arbitration boards, made three cost-of-living surveys for the Government. On the campus work piled up.
Together, we passed the first across-the-board tax reduction for everyone since the Kennedy tax cuts. Next year, tax rates will be indexed so inflation can't push people into higher brackets when they get cost-of-living pay raises. Government must never again use inflation to profit at the people's expense.
After considering cost-of-living increases in recent years, it is little more than a 10-cent increase over the present legal minimum. In fact, if any large number of workers earn less than this amount, we will find it impossible to maintain the levels of purchasing power needed to sustain the stable prosperity which we desire.
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