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...budget battle could kill the bull market, several major corporate business leaders took out a two-page ad in today's New York Times urging Washington to end the stalemate. The ad, which was published in the form of a letter addressed to President Clinton, Sen. Dole, House Speaker Gingrich and other congressional leaders, says the President and Congress should: use Congressional Budget Office projections; take no longer than seven years to balance the budget; ensure the process of deficit reduction is achieved evenly, rather than "backloading" difficult political decisions until the next century; and put "everything on the table...

Author: /time Magazine | Title: WALL STREET CALLING | 12/19/1995 | See Source »

...members of the House for passage of elements of the Contract. "You have coalition creep,'' says Mark Isakowitz, a leader of the Coalition for America's Future, which pushes tax cuts. "You could spend most of your time going from one coalition meeting to another." These are coordinated for Gingrich by Representative John Boehner. His Thursday Group, a round table of representatives from the various coalitions, meets every week at 11 a.m. in a room within Gingrich's suite of offices in the Capitol. Unconstrained by rules of public disclosure, they have spent hundreds of thousands of dollars on lobbying...

Author: /time Magazine | Title: NEWT'S CASH MACHINE | 12/18/1995 | See Source »

Supportive research for the G.O.P. revolution is provided by the Progress and Freedom Foundation, the think tank through which the Speaker's college course was funded. Though Gingrich is no longer connected formally with the foundation, his sympathetic attention to what it produces is enough to bring it support from people who see it as an indirect route to the Speaker's ear. "Of all the think tanks, that's one whose reports are not just going to sit on the shelf,'' says lobbyist Jim Tozzi, whose firm has helped tobacco and chemical firms fight government regulations. "If I give...

Author: /time Magazine | Title: NEWT'S CASH MACHINE | 12/18/1995 | See Source »

Democrats are hoping the special counsel that the ethics committee plans to hire will poke around in the Gingrich money machine until the investigator hits something foul. If the ethics committee balks at any request by the counsel to expand the probe, the Democrats can be counted on to recall the words of a celebrated House firebrand. To place limits on the work of the special counsel, he declared, would be seen as "an attempt by the ethics committee to control the scope and direction of the investigation.'' Who said that? Gingrich did, seven years ago, when he was pushing...

Author: /time Magazine | Title: NEWT'S CASH MACHINE | 12/18/1995 | See Source »

After a year's investigation--longer than Congress took to craft its overhaul of the entire Federal Government--the House ethics committee issued its first pronouncement regarding the array of charges filed against Speaker Newt Gingrich. The panel's biggest decision: to hire a special counsel to investigate the financing of a college course Gingrich taught in Georgia. The panel took no action on a number of other charges but sharply reprimanded the Speaker for his controversial book deal and "the impression" it created of "exploiting one's office for personal gain." Democratic whip David Bonior said he would soon...

Author: /time Magazine | Title: THE WEEK: DECEMBER 3-9 | 12/18/1995 | See Source »

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