Tuesday, October 01, 2013

Does History Repeat Itself?

The year was 1975, and New York City was in dire financial straits. Mayor Abe Beame had a plan, but what the city needed was a $1 billion line of credit. Congress passed a bill authorizing such, but President Gerald Ford, under pressure from Republican Party conservatives, promised to veto the bill. The New York Daily News' headline is still talked about:

At the time it was considered a hard-hitting headline.  Today, not so much . . . especially when you consider this morning's Daily News front page:

Oh, my!

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