In April 10 , 1962 when the nation was trying to get back on its feet, the steel companies decided to raise steel prices not taking into consideration all the sacrafices everybody else was willing to live with, and this could potentially put the nation back in a recession period. President John F. Kennedy released a commentary addressing how America's largest steel company had raised the steel prices by an unjustifiable amount. In this commentary, Kennedy wants to reassure the public that the necessary action to address this will take place.
Kennedy emphasizes the steel companies inflation of their prices to the people so that they know that their necessary day to day items will no longer be easy to possess and will cost them more than the …show more content…
Having the steel companies raise their prices will not only affect Americans, but our economy as well. We will have a difficulty with competing with foreign markets thus dealing with our unbalancing payments position and the stem flow of gold. Kennedy assess the steel companies as egotistical and greedy and not thinking of the public. He also states “that there is no justification for an increase in the steel prices”, because it will affect not only the public but the workers as well. No man would want to come home and tell his wife that he has no job; therefore, why go through all the work of raising the prices when it will significantly impact everyone. With the companies raising their prices so fast, the cost of labor will be expected to decline within the next twelve months. As stated in his speech “ the Acting Commissioner of the Bureau of Labor Statistics informed me this morning that and I quote: ‘Employment costs per unit of steel output in 1961 were essentially the same as they were in 1958’ “ , raising the prices would be futile to the companies and a robbery to the public. In the speech, President Kennedy states that a few gigantic …show more content…
Kennedy asked every American, “what he would do for this country”, a true American may say that he would serve and protect. He asked the steel companies the same question, who now seem like a foreigner in their land. Bottom line is, it is our responsibility to make sure the best interest of the public (taxpayers)should always be our main
Kennedy emphasizes the steel companies inflation of their prices to the people so that they know that their necessary day to day items will no longer be easy to possess and will cost them more than the …show more content…
Having the steel companies raise their prices will not only affect Americans, but our economy as well. We will have a difficulty with competing with foreign markets thus dealing with our unbalancing payments position and the stem flow of gold. Kennedy assess the steel companies as egotistical and greedy and not thinking of the public. He also states “that there is no justification for an increase in the steel prices”, because it will affect not only the public but the workers as well. No man would want to come home and tell his wife that he has no job; therefore, why go through all the work of raising the prices when it will significantly impact everyone. With the companies raising their prices so fast, the cost of labor will be expected to decline within the next twelve months. As stated in his speech “ the Acting Commissioner of the Bureau of Labor Statistics informed me this morning that and I quote: ‘Employment costs per unit of steel output in 1961 were essentially the same as they were in 1958’ “ , raising the prices would be futile to the companies and a robbery to the public. In the speech, President Kennedy states that a few gigantic …show more content…
Kennedy asked every American, “what he would do for this country”, a true American may say that he would serve and protect. He asked the steel companies the same question, who now seem like a foreigner in their land. Bottom line is, it is our responsibility to make sure the best interest of the public (taxpayers)should always be our main