Word: budgeted
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Dates: during 1980-1989
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...proceed to the right thing? Last week's signals from Budget Director-designate Richard Darman were intriguing. At the outset, Darman seemed willing to raise new revenues if euphemisms like "definitional changes" and "user fees" could be substituted for the word tax. Then, in a yin-yang reminiscent of the early 1980s, when he helped craft Reagan's acceptance of revenue enhancements, Darman backed off, invoking the "duck test." No matter what a revenue raiser is called, he told Congress, if it looks like a tax and sounds like a tax, and people perceive...
...some to conclude that he was allowing the Administration considerable wiggle room to raise taxes without using the dreaded T word. Watching Bush and Darman play out the game may become a full- time occupation. They could succeed. Congress is not eager to force legally mandated across-the-board budget cuts next fall. After posturing for partisan effect, the Hill may be more than willing to become a co-conspirator in permitting Bush to backtrack...
...Passe is widely credited with bringing Motown to life by expanding into TV movies and other programs. Wielding a budget that has jumped from $12 million in 1980 to $65 million this year, de Passe is picking up Motown's tempo. Among the latest productions: Bridesmaids, a TV movie scheduled to air on CBS next month, and two feature films, The Jackie Wilson Story and Heatwave a teen romance...
Ronald Reagan was luckier. He discovered a passel of single-minded, if not exactly single-armed, economists who called themselves supply-siders. They promised Reagan that he could cut taxes, rebuild U.S. military might and reduce the budget deficit, all at the same time. While the President eagerly followed the script, the deficit forgot its lines. Instead of shrinking each year, it added $1.3 trillion to the U.S. national debt during Reagan's two terms, more than doubling the total burden...
While economists may be more open to peaceful coexistence, they still tend to form battle lines over the importance of the budget deficits. Some economists contend that the deficit is no longer a menace because it has shrunk from more than 6% of the gross national product in 1983 to about 3% right now. That is lower than the level of deficit spending during 1975-76, for example, when the gap was widened by a recession. Friedman says he accepts the deficit because it has restrained federal spending. "Sometimes you have to choose the lesser of two evils," he says...