Word: gramm
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Dates: during 1990-1999
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Merkowitz, who calls the student aid portion of the budget "very disappointing," says much of the increase in funds in Pell Grants will go toward covering last year's shortfalls in this program. Funding for Pell Grants was slashed when the automatic spending cuts mandated by the Gramm-Rudman-Hollings Act came into effect after the budget did not reach its deficit-reduction goals...
...straightforward, attractive doctrine. No Gramm-Rudmann, no protectionism, no comprehensive industrial policy. The war for economic competitiveness will not be won on the battlefield of finance, they say, but on the battlefield of values...