Word: grammes
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Harvard had argued that cuts to meet Gramm-Rudman goals would disproportionately target federal funding for university research and student financial aid. Funding for higher education, unlike some other domestic spending, is not specifically protected against sharp cuts under Gramm-Rudman, and experts argued that such funds do not carry the political clout to be spared of the congressional...
...economist said the court's removal of Gramm-Rudman's mandates will not improve the process of agreeing on a budget. Congress and the Administration will probably return to a stalemate about where and how to reduce the deficit, said Benjamin M. Friedman, Harvard professor of economics...
...advantage of Gramm-Rudman is that it madeclear what would happen if the administrationfailed to go along with Congress. Theformula-based cuts that would take over were notnecessarily favorable to the administration," hesaid...
...bill contains a fallback provision thatallows Congress to vote on a deficit-reductionpackage if the automatic feature was invalidated,and there is some speculation that Congress maycontinue to use Gramm-Rudman as an unofficialbudget guideline, experts said...
Congress approved a budget of nearly $1trillion on June 27, projecting a deficit of$142.6 billion, which is within the range requiredby Gramm-Rudman. The economic problems will notappear in the 1987 budget, but the "real crunchwill come in a few years," Friedman said...