Word: gramm
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Dates: during 1980-1989
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Cheney's announcement was greeted by much of the U.S. foreign policy establishment with cynicism. The Defense Secretary, it was said, had not really had a change of heart; the cuts had more to do with the requirements of the Gramm-Rudman-Hollings deficit-reduction law than with the opportunities posed by Gorbachev. True, but beside the point. What mattered to the Soviets was that the U.S. body politic as a whole now accepted the proposition that Kremlin policy had changed in ways that justified American reciprocation...
...Drano: the quick fix," we thought. Just stand back and the problem will go away. Is this what Congress hoped with the Gramm-Rudman-Hollings deficit reduction package...
...time." Nader spokesman Bob Dreyfuss pointed out that while Congress was looking after its own interests, it had delayed action on a federal child-care plan and failed to pass a budget -- leaving servicemen, Medicare recipients, farmers and other federal beneficiaries vulnerable to the automatic Gramm-Rudman-Hollings cutbacks. "If the issue were based on merit alone," he said, "Congress would be forced to take...
...Washington Congress quickly passed, and President Bush signed, a measure making $3.4 billion available to disaster victims, mostly in California; $2.85 billion of that will be new money. Legislators pointedly exempted the relief funds from the spending cuts mandated by the Gramm-Rudman-Hollings law, but, in a somewhat surprising burst of honesty, agreed to count them as part of the budget deficit. Though New York Democratic Senator Daniel Patrick Moynihan asserted that the relief money will have to be made up by cuts in other programs, that is most unlikely, and no one in Washington will even whisper...
...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...