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...spark for the late-week recovery came from Washington as the White House, increasingly alarmed about the disarray in financial markets, tried to restore confidence among moneymen. President Reagan abruptly abandoned his pledge to spare Social Security retirement payments from the budget ax; he proposed reductions in old-age and other benefits that will trim Social Security payouts by 10% and shave $46 billion in the next five years. Lawrence Kudlow, chief economist at the Office of Management and Budget, promised that more spending cuts and deferrals were on the way and hinted that the Administration might scale back slightly...

Author: /time Magazine | Title: Those Bad News Bears | 5/25/1981 | See Source »

...consider his performance overall as good or excellent, a shade better than Jimmy Carter's rating at about the same time in 1977. But Reagan is only working half-days in the Oval Office. Perhaps as a result, the Administration's foreign policy is still in some disarray. Even before a politically weakened Alexander Haig flew off to a meeting of NATO foreign ministers in Rome, aides of the Secretary of State were trying to counter the impression that by its strong pro-Israel stance the Administration had given the Israelis the green light to attack Syrian positions...

Author: /time Magazine | Title: Reagan's Budget Battle | 5/11/1981 | See Source »

...White House staff? Was it a genuine effort by the President to recover a greater role in foreign policy? During the course of these talks, Haig seriously considered resigning. One factor that influenced his decision to stay was the looming Polish crisis. By quitting, he felt he might create disarray in the Administration at a time when firm unity was needed. The meetings broke up with no firm conclusions reached. Said a Haig associate: "We decided we would see its evolution...

Author: /time Magazine | Title: Trouble on the Team | 4/6/1981 | See Source »

...Aymone has tried to build suspense by telling interviewers that his retirement would give the family more time together. What is new is that the President is no longer considered a shoo-in. The Socialist-Communist Alliance's scorching defeat in the 1978 legislative elections, and the ensuing disarray within France's leftist opposition, had given the impression that Giscard could be re-elected without much effort. As recently as November, polls gave him 59% of the vote in a runoff against Mitterrand, a significant improvement over the paper-thin 50.8% majority with which he was elected...

Author: /time Magazine | Title: France: Giscard Battles a Slump | 2/16/1981 | See Source »

Concern about the workings and directions of the federal system has been climbing sharply and growing more articulate for the past few years, and not only among conservatives. Says one self-styled "committed liberal and unapologetic Democrat," Arizona's Governor Bruce Babbitt: "The federal system is in complete disarray." The Nation al Governors' Association last summer unanimously demanded that Congress and the President create a commission to diagnose the whole governmental apparatus and propose some sorting out of powers. An equally urgent plea for a realignment of powers came last summer from the Advisory C mission on Intergovernmental...

Author: /time Magazine | Title: Essay: States' Rights and Other Myths | 2/9/1981 | See Source »

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