Cabinet Mtg
26 Aug 74
Ash Chart line on Foreign Aid showed Indo-China reconstruction and other foreign aid.
P We will make max effort to get under $300 bil for 1975. ···· P Schmidt said he hoped we wouldn't do anything drastic unilaterally. What did he mean.
Greenspan To the extent we can, we should cooperate intly. We can't be tied in our actions to the intl cmty, but we should attempt close coop.
K I don't know c economics, but Schmidt is our strongest ally in Eur. He is convinced that c whole western world is in a financial crisis. I think you should coord w/ him before taking any action — and at your level. I think he would agree w/ what we want to do & I would run any proposals by him.
Rush I concur. ···· Lynn All the mayors & other local people will say Take it out of DoD + Foreign aid. We need talking points or someone present to refute these.
P Yes. Mayors said c same to me. Butt when we reduce DoD, they don't want contracts or bases cut from their area. Let's be ready w/ data on the mayors, like where DoD installations & contracts are. Ask them if their DoD share should be cut.
Ash I will have data on how DoD share has been declining.
K Some of the groups most critical of DoD are also critical of detente. It would be disastrous to SALT