Word: gramm
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...incumbent Republican he beat 55% to 45% -- or for that matter from those of Ronald Reagan, who campaigned unavailingly against him. Democrat Graham, 50, who enters the Senate after eight years as Governor, supports the Strategic Defense Initiative and aid to the Nicaraguan contras, and he considers the Gramm- Rudman-Hollings Act a "necessary sledgehammer" to trim federal spending...
...make a dent in the burgeoning budget deficit, Congress must confront either the possibility of a tax increase sometime in the next two years or a loosening of the Gramm-Rudman-Hollings noose. This could be the real test of whether the White House and the Democratic Congress will end up seeking compromise or confrontation. Reagan is sure to oppose any outright tax increase, just as he has done in the past. And the Democrats will be as wary as ever of being out front on the issue. But some package of spending cuts and revenue raising seems necessary...
Welcome to Capitol Hill in the era of Gramm-Rudman, the half-desperate deficit-reduction measure passed last fall and described by one proponent as a "bad idea whose time has come." No one doubts that Gramm-Rudman's requirement to shrink the federal deficit each year by fixed amounts has changed the way Congress does business. What its members are unable to agree upon is whether the change is for the better...
Congress has yet to resolve its basic standoff with the White House over how to close the budget gap without raising taxes or making major cuts in defense or social programs. After a year of Gramm-Rudman, Congress has become somewhat more frugal but mostly more inflexible. "Gramm-Rudman has helped, but it's a little like a half-successful birth-control method," mused Lynn Martin, an Illinois Republican who serves on the House Budget Committee. "It's better than nothing, but it's not as good as just saying...
Since 1981 the Reagan Administration has made it increasingly plain that the U.S. will not underwrite a profligate organization influenced by anti-American forces -- namely the United Nations. This year the Administration's threats to cut the $210 million U.S. assessment by $67 million have been seconded by congressional Gramm-Rudman budget-cutting efforts. Together the cuts could drop U.S. payments low enough to put the U.N. in fiscal jeopardy...