Word: gramm
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...extremes to duck accountability. The only way Congress could muster the moxie to close 86 outmoded military bases was first to appoint a commission whose recommendations will automatically take effect in April unless rescinded by both houses. To mask its inability to confront the deficit, Congress created the Gramm-Rudman guillotine, which arbitrarily cuts the budget if compromise fails...
...three most important words in Bush's address remained the familiar cry of "no new taxes." That read-my-lips pledge from the campaign presented the President with what may prove an insoluble problem: how to meet the Gramm- Rudman target of a $100 billion deficit on his $1.16 trillion budget for fiscal year 1990. The commitment to comity with Congress ruled out the Reagan- era approach of proposing draconian, and politically unrealistic, cuts in domestic spending that would be immediately declared "dead on arrival." The familiar device of using overly optimistic economic assumptions to gild the budget...
...Bush is the defense budget, frozen at $291 billion after allowing for inflation, and the near sacrosanct $247 billion for Social Security. Unfortunately, those huge budgetary no-trespassing signs mean that only meat-cleaver slashes in the jumble of discretionary programs could possibly make the Bush proposal meet the Gramm-Rudman targets. But the President's team is not going to squander political capital on such a fool's errand; that messy job is left to Congress...
...that his Administration could drift for months without major victories -- or, worse, be burdened with a mortifying setback. Already, the uplifting sermons have begun to sound repetitious and a trifle hollow. A budget concordat with Congress would, of course, provide the tonic that Bush craves, but the Oct. 15 Gramm-Rudman deadline all but ensures that serious negotiations will be delayed until late summer. In the interim, Bush should have more than enough time to grapple with that transcendent -- but still unanswered -- question: What precisely does he want to accomplish as President...
...have institutionalized our concern about the deficit with the Gramm-Rudman-Hollings bill and saying basically if certain cuts aren't made other certain dire cuts will take place," says Gradison. "I do think there is a growing consensus that cuts across party lines that the deficit has to be brought down and that compromises have to be made...