Word: inkly
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...what is already certain to become another record for the Administration: the nation's largest budget deficit. Reagan's own 1983 budget would have produced a deficit estimated by the Congressional Budget Office at $121 billion. When even leaders of his party rebelled at all that red ink, he supported spending cuts and tax increases that still are expected to leave a deficit of at least $105 billion. Democrats are refusing to support any tax increase at all in an election year. Some had hoped to repeal the final the President's three-year program to reduce...
...gift of a stuffed "presidential seal." But his mood was stern in the White House Rose Garden, where he told reporters after a meeting with amendment supporters: "We must not, and we will not, permit prospects for lasting economic recovery to be buried beneath an endless tide of red ink." Reagan this week plans to announce the formation of committees in each of the 50 states to push for ratification of the amendment...
...cynicism and even hypocrisy in all this agitation, an effort by Congress and the White House to have it both ways. Only a month ago, Congress passed a budget resolution that would allow for a record-shattering deficit of $103.9 billion in fiscal 1983. Even that is less red ink than would have flowed from the budget proposals that Reagan presented in February. The balanced-budget amendment allows Congress and the President to reassure voters that they are, at bottom, all for fiscal responsibility. Says Democratic Congressman James Shannon of Massachusetts: "It's like getting drunk and going...
Books everywhere are falling apart. Acids in the ink and the pulp devour the pages. The paper crumbles, powdered words in a few generations will blow away like dandelion fluff. Some computer-literate great-grandchild will hold the empty, mortal binding in his hands as if it were Yorick's skull...
...being confronted with the following angry question: What in the world has gone wrong with Reaganomics? From the moment that President Ronald Reagan first proposed his fiscal 1982 budget 148 days ago, the mesmerizing specter of gargantuan federal deficits has haunted an already skittish U.S. economy. As the red ink has swelled, growth has sagged further and further, interest rates have lurched about unpredictably, and ever lengthening lines of jobless workers have begun coiling out from unemployment offices around the country...