Word: gramm-rudman
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...nose dive, dragging corporate profits and federal tax receipts down too. In mid-June Darman boosted his 1991 deficit estimate to $159 billion, up from $138 billion just a month before. Unless a plan for cutting almost $100 billion could be produced by Oct. 1, spending cuts required by Gramm-Rudman would force the layoff of thousands of government workers. Within days, Administration officials began to utter dire predictions. It was the perfect opportunity for a sudden conversion, and Bush took...
Ideas like these win applause from think-tank experts but have failed to arouse much enthusiasm on Capitol Hill. The real problem is not with the budgetmaking process but with those who are in charge of it. The Gramm-Rudman- Hollings law was billed as the magic bullet that would blow away both the deficit ogre and the obstacles to orderly action. Gramm-Rudman has proved to be a dud. Overhauling the machinery yet again would help only if its operators were able to muster the will to run it properly. But if they could manage that, no overhaul would...
...great power abroad" -- a potent argument at a time when 100,000 U.S. soldiers are in harm's way in Saudi Arabia. If the negotiations stopped, Bush said, he would demand a decisive vote by Sept. 28 on a comprehensive Administration package. If that failed, he warned, the Gramm-Rudman sequester would ravage public services...
...bipartisan budget summit involving congressional negotiators and White House aides resumed just two days after the California vote. But the summiteers are far from reaching an agreement on a mix of spending cuts and new revenues that will hold the 1991 deficit to the $64 billion mandated by the Gramm-Rudman- Hollings law. They are even talking of putting off a budget agreement -- and the announcement of new "revenue enhancements" that it might entail -- until a lame-duck session of Congress begins, conveniently, after the November elections. "The tough choices have been avoided for ten years," laments California Democrat Leon...
...mechanistic approach like Gramm-Rudman is not the real solution to the budget deficit. Says Speaker Foley: "No amount of tinkering with the legislative process can substitute for a commitment to get spending under control. Some people look to procedural changes to get us out of our current mess. Will is what's required." There are no shortcuts on the road back to fiscal responsibility and economic health...