Word: darman
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...Friday a stunned White House tried to pick up the pieces. Its negotiating team, led by Budget Director Richard Darman, was back in Foley's office seeking a new consensus built on a majority of Democratic votes; the Republican rebels seemed intractable. Said a Bush adviser: "Our Republicans were too stupid to figure out that we weren't going to move in their direction." It appeared that any new deal would, at minimum, have to reduce the cost to Medicare recipients...
Progress stalled after the Democrats demanded a trade-off: higher income tax rates on the wealthy. Budget Director Richard Darman, Bush's chief representative, countered by calling for large cuts in entitlement programs. Democrats were already fretting about the possibility that Social Security, Medicare and other programs with broad constituencies may have to be slashed. Having earlier agreed to slicing $130 billion from entitlements over five years, the Democrats retreated to $100 billion. For the moment at least, both parties were hiding from reality in their familiar ideological bunkers: Republicans trying to minimize tax increases, Democrats attempting to protect popular...
...address to Congress last week. The President's original plan was to use the occasion to unveil a bipartisan "50/500" deal, which would pare $50 billion from the 1991 deficit and $500 billion over five years. For a while, everything seemed to be on track. Budget Director Richard Darman and congressional leaders had made some progress in bargaining sessions that started Sept. 7. But the negotiations bogged down before the speech. So instead of making a triumphant announcement, Bush used his prime-time pulpit to sermonize: "Most Americans are sick and tired of endless battles in the Congress and between...
...hack," said Deputy Campaign Manager David H. Darman. "You're not a hack unless you're making a lot of money, and since I've been in politics I've made poverty wage. But I guess I'm stupid, addicted, or both...
...urgency of the task facing the congressional and White House budget negotiators, whom Bush left closeted at Andrews Air Force Base in Maryland, was alarmingly clear. Because of declining revenues from the weak economy, estimates of next year's budget gap are leaping into the stratosphere. Budget Director Richard Darman projects a shortfall for fiscal year 1991 of $250 billion, and some economists predict that if rising oil prices tip the U.S. into a deep recession, the figure could climb to $400 billion. If no agreement on the budget can be reached by Oct. 1, draconian spending cuts mandated...