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Show WILTER SHE AD Cost of Living Spirals IN PRESIDENT TRUMAN'S state of the union message to congress last January he warned of the spiral of inflated prices. In the succeeding seven months the President filed with congress two economic reports on conditions in the country, and in both of these he urged congress to do something about the high cost of living. In addition, more than a month before adjournment of congress he sent a special message urging positive posi-tive action against the continued spiral of living costs. He also made a plea to private industry to reduce costs voluntarily. All through the long months until congress adjourned, no action ac-tion was taken. In the meantime, living costs reached their peak immediately before adjournment. As prices soared, profits soared and 1947 earnings will be approximately 50 per cent above last year's record of $12,539,000,000. On the last day of the session the senate named a joint committee and appropriated $100,000 for it to hold hearings to probe the question of whether or not there is a high cost of living problem. That is all congress did. These hearings probably will get under way in mid-September 4- -X- |