Word: ax
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...Ax-wielding budget director David Stockman's proposed cuts in social spending are intended to reduce inflation rates by eliminating the artificial demand for unproductive services. Conservative economists say these federal spending cuts will allow room in the currently services-bloated economy for investment in the private sector to effect greater output and create more employment. They see a long-term decline in interest rates arising from reduced spending as perhaps the greatest stimulus to increased investment and greater productivity that will reduce inflation...
...picture of Nancy Reagan being knocked off balance by a loving orphan was in its way a subtle lobby for yet another cause, Foster Grandparents. Wonder of wonders, the group has escaped the ax. Jane Russell, whose cantilevered brassiere was the sensation of the movie era that also elevated Ronald Reagan, showed up to plead against changes in children's programs that she supports. Luscious Liz Taylor, newly svelte, and some weary turtles from the fifth-rate aquarium kept in the Commerce Department basement were enlisted to stave off the budget knife for their respective interests, the arts...
...hint, Ronald Reagan last week sent Congress the second and final installment of his budget-slashing proposals for the next fiscal year. The President's meaning was unmistakable: the public wants deep cuts in both spending and taxes, and any legislator who tries to keep the ax from falling risks putting his own neck under an ax at the polls. But the warning did not prevent opponents in and out of Congress, some of whom had initially seemed stunned into silence by the vigor of Reagan's budget blitz, from recovering their voices. Though Reagan still seems likely...
...main contentions: > The cuts strike unfairly at the poor. It is impossible to put a figure on how much of the $48.6 billion in proposed budget savings affects low-income people, both because of difficulties in defining who is "poor" and because some of the programs slated for the ax-mass-transit subsidies, for example-benefit several classes. But many of the deepest reductions, such as those in food-stamp and other nutrition programs, health, welfare and job-training plans, do come at the expense of low-income groups. Liberal Democrats vehemently argue that the Reagan tax reductions will save...
...Hollywood Slice-N-Dice-a-Thon. The Saxon theater, the cheesy upstart of the Sack line, fills its lobby with horror film posters. To the left, a nubile woman is undergoing a tracheotomy by cleaver, and to the right, half-naked women cringe in terror as an ax-murderer emerges from the shadows...