Word: grammes
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...list of suspects is not short. Weinberger has acquired new critics within the Administration by opposing the Gramm-Rudman deficit-reduction proposal, which the President supports despite its provisions for cutting military spending. The Secretary's credibility on Capitol Hill has shrunk to the point where Senate Armed Services Committee Chairman Barry Goldwater bluntly told Weinberger at his most recent appearance, "You haven't answered any of our questions." Yet Reagan seemingly retains faith in his longtime and unquestionably loyal associate. When asked in Geneva whether he had any plans to fire Weinberger, the President responded with a blunt "Hell...
Most difficult of all will be navigating the murky waters of the Gramm-Rudman Act, the jerry-built scheme adopted last month that mandates automatic reductions in federal spending if necessary to reach specific deficit-cutting targets. The tumult caused by this unprecedented measure, whose constitutionality is under challenge, will begin almost immediately. On Jan. 10, budget officials in the White House and Congress will kick the law into force by producing an estimate of the current fiscal year's looming deficit, probably about $200 billion. To limit the shortfall this year, Reagan will be forced by Gramm-Rudman...
Those shocks will be mild compared with the ones that will follow when the Administration presents its budget proposal for fiscal 1987, which begins next October. That document, due in February, will have to pare planned spending by more than $50 billion to comply with Gramm-Rudman, and leaks and protests are already flowing copiously from dismayed officials and special-interest groups. Since Reagan hopes to protect defense spending, his proposals will focus on domestic programs. Among probable goals: total elimination of the Small Business Administration and Job Corps, sale of the Federal Housing Administration and certain federally operated power...
...version almost from scratch. Not since 1976 has Congress actually completed this process and passed the requisite appropriations bills by the beginning of the fiscal year in question. This time the process will be even more complex--and the last-minute show downs far more dramatic--because the Gramm-Rudman scythe will swoop in with automatic cuts if no budget-cutting agreement is reached on time...
...targeted limit by $180 million. "Until Congress comes to grips with the problem of the large budget deficit," said Reagan, "[the veto] is an instrument I shall not hesitate to employ." If last week was any indication, the President will be braced for a tough Round 4 on Gramm-Rudman in December...