Living Beyond Our Means
PAUL G. HOFFMAN began as an automobile salesman for the Studebaker Corporation in 1911, served as its President from 1935 to 1948, and then left a position he had occupied with integrity and initiative to become head of the Economic Cooperation Administration, which carried through the Marshall Plan. This enterprise, which was originally estimated to require $17 billion, achieved its goals at a cost of approximately $12 billion. After his two and a half years in this job without precedent and his career as a businessman who always balanced his books, he is sharply aware of the necessities which have forced our National Hudget higher and higher.