Word: doa
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Reagan opened his news conference Tuesday night by daring Congress, in effect, to substitute a tax increase for some of his spending cuts. Said the President: "Those who say that our budget is DOA--dead on arrival--are really saying, 'Brace yourself for a tax increase' . . . rest assured that any tax increase sent to me will be V.O.A.--veto on arrival." On a visit to St. Louis the next day, Reagan's motorcade pulled up to a side door of his hotel to bypass 150 angry farmers who oppose his budget priorities. Adding to their pain: some 75,000 letters...
...President opened his news conference with a pitch for his 1987 fiscal year budget, and took note of critics who say it is "DOA--dead on arrival." He said those critics only want a tax increase to reduce deficits, adding that any such increase would be "VOA--vetoed on arrival...
Sellers of farm equipment will be among those hit in 1983. Cash-squeezed farmers had cut back on purchases of new equipment even before this year, leaving manufacturers and dealers with huge inventories. The DOA projects that PIK will reduce spending for purchases and repair of tractors, combines and other machinery by an additional 8% this year, to $18.2 billion. Says Emmett Barker, president of the Chicago-based Farm & Industrial Equipment Institute, a trade group: "The size of the acreage cutback can't help but be disastrous to many businesses. There is no way that you can take...
These huge surpluses, along with slumping sales, left farm prices in October a sharp 5.1% below their level a month earlier, the seventh drop in the past 15 months. The DOA, which regularly reports on the buying power of the farmers' prices, now says that it is the lowest since March 1933, during the very worst of the Depression. Rather than sell at such low rates, farmers are putting up their grain in the hope that they will be paid more for it later. That strategy seems doomed, however, because experts now predict that prices will remain...
...deficit. Clearly, Washington's tactic of using food as a weapon to make Moscow behave in international relations has misfired. Indeed, the U.S. is now scrambling for a share of the Soviets' grain business. Says Deputy Assistant Secretary for Economics J. Dawson Ahalt of the DOA: "It's an interesting turnaround...