Word: deficits
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Dates: during 1970-1979
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...Director James Mclntyre and Charles Schultze, Chairman of the Council of Economic Advisers. They argued for a smaller program, one that would not cost more than $15 billion to $27 billion. Whatever the President decides, Congress is distinctly cool to the idea of adding to the already inflationary budget deficit. Capitol Hill also worries about extending medical coverage when the Government has been unable to control Medicare and Medicaid...
...what the Government has to pay to large investors in order to sell six-month Treasury bills. Savings banks and savings and loan associations that market the certificates can pay as much as ¼% above the Treasury bill rate. In the past year, inflation and the ballooning federal deficit have driven that rate from...
...Steiger amendment itself, Evans calculates, would not cost the Treasury a cent; though the capital-gains levy would be lower, there would be more profits to tax. And the quickening of economic growth would raise the Government's take from other taxes enough to cut the federal deficit by $16 billion...
...Budget. More than $50 billion in deficit spending is projected for the fiscal 1979 budget that is now before Congress, and both Carter and his Budget Director, James Mclntyre, are under attack for being unable to reduce the volume of the red ink any more than that. Last week Carter pledged to do better in his 1980 budget, saying that new spending will be severely restricted. Meanwhile, the President's chief inflation fighter, Robert Strauss, predicted that the deficit in the 1980 budget will be "well below" $40 billion...
...been ineffectual. He notes that among other things, he was a major force in persuading the President to reduce the size of his proposed income tax cut to lessen the threat of inflation. Says Mclntyre: "I have been the principal advocate of reducing the budget deficit. All the President's economic advisers have come to agree with me." But if Mclntyre hopes to still the criticism, he will have to be a tougher, sharper cutter...