Word: across-the-board
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...ease the school of neo-conservatives, ripe for policies that put to test their surmises that an unequal distribution of society's rewards best served its interests. Congressman Jack Kemp took off his football helmet and preached of his countrymen's spirit for hard work, one which the across-the-board tax cuts he proposed would no doubt sanctify. Contributing his Harvard pedigree to the cause of supply-side's credibility was Martin Feldstein. He designed models to prove that poor people save less than rich, while a college classmate of his, George Gilder, added new dimensions to the word...
...bespectacled representative from Michigan came to the OMB prepared to fight for Reagan's supply-side policies in a Congress unaccustomed to radical change, and his success last summer was unqualified. Stockman united all Republicans, and played Democrats off one another to win approval for his package of across-the-board tax cuts and budget reductions. But if Stockman won the first big battle for the supply-side, the doctrine failed him in its debut on the market place. The summer's victory hardly made a dent in the soaring interest rates that threatened an imminent recession...
...week pushed through an appropriations bill for social programs to cost $87.3 billion in fiscal 1982, some $4 billion more than Reagan had wanted. Though the bill came within a whisker of matching Reagan's first round of budget slashes, it did not include the additional 12% across-the-board cuts the President had asked for last month...
...across-the-board cut in what are called "nondefense discretionary programs." This would touch on almost every domestic program directly funded by Congress, from farm subsidies to urban aid programs. If approved, the reductions could lead to the elimination of 75,000 Government jobs and a saving next year of $8.4 billion. Unlike the all encompassing single vote Reagan had on his earlier budget proposals, reductions for each agency and program must be fought individually this time around-and the battles are sure to be furious...
Even Republican leaders expressed skepticism that Congress would go along with the President a second time. Said Senate Majority Whip Ted Stevens of Alaska: "I just can't believe he's going to get those across-the-board cuts." Dole, a leader in both the Finance and Agriculture Committees, predicted: "The Senate will be slow to cut any more in the nutrition area, as I am." Nor were the financial markets encouraging. Stock prices fell sharply Friday, the Dow Jones hitting a new 17-month low of 824.01, and bond prices also plummeted...