Word: deadlocked
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Although TIME'S economists disagreed on the right way to break the budget deadlock and bring down the amount of deficit spending, they all said it was essential to get out of the political and economic gridlock that is causing business uncertainty. A realistic budget compromise would obviously not bring about an immediate drop in interest rates or assure that consumers this summer will feel confident enough to spend the money from the tax cut. But the lack of a budget agreement and the prospects of more huge deficits in the future mean that the debilitating economic uncertainty will...
Some of the greatest concern was over the continued budget deadlock, and the executives had some surprising bits of advice for solving the problem. David Packard of Hewlett-Packard, a former Deputy Secretary of Defense whose company derives 15% of its revenues from defense work, called on the President to reduce his military budget by up to $10 billion. "Those battleship expenditures don't seem very wise. I think the South Atlantic fiasco proves that ships aren't safe from missile attack," said Packard. "I'd also recommend skipping the B-l bomber and going directly...
...singly by Mike Knobler snapped a 2-2 deadlock and triggered a 21-run 10th inning rally, as the undefeated Crimson rolled to its fourth straight victory, 23-2, over Bok's Jocks Saturday The error-prone administrators have not heaten Cambridge's only breakfast table daily since...
...Republican participants, on the other hand, felt that Reagan had demonstrated his willingness to compromise and that the Democrats really did not have a constructive counterplan. White House aides felt that the President had handled the situation deftly enough to make the Democrats share the blame for the budget deadlock. "The perception now is that the President is fair, equitable and reasonable," claimed one of Reagan's aides...
...loss drops Harvard's record in Ivy competition to 4-1, leaving the Crimson in a deadlock with Penn, which suffered its only setback of the season at Harvard's hands...