Word: iran-contra
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Just a year earlier, when America blazed with celebrations for the 100th birthday of the Statue of Liberty, Reagan had seemed the most popular President in years. But after a steady flow of congressional hearings on the Iran-contra arms scandal, of war threats in the Persian Gulf, of huge budgetary and trade deficits, of a declining dollar and a crashing stock market, his own stock fell. A CBS/New York Times poll at the end of November reported that 45% of the citizenry approved of the way Reagan was doing his job, down from 52% only six weeks earlier...
...Putting the Presidency Back to Work" ((NATION, Nov. 23)), you say the "Iran-contra mess, the stock-market crash and the inability to pick a Supreme Court nominee capable of being confirmed by the Senate have threatened to add Ronald Reagan to the list of 20th century presidential failures." Are you serious? Here is a President who has been able to bring about a domestic- policy revolution: the top tax rate is down from 70% to 28%, inflation has been licked, and the economy has galloped ahead at a record pace for 59 months...
Bush's more serious problem concerned the Administration's arms-for-hostages deals with Iran. The congressional Iran-contra committees released a memo from former National Security Adviser John Poindexter citing the Vice President as a strong supporter of the policy. Dated Feb. 1, 1986, the memo states that "president and v.p. are solid in taking the position that we have to try." Bush has said he expressed "reservations" about the plan, although he approved of it. The new memo proved that "I stood with the President," he said. Despite the difficult week, he added, "I've never felt stronger...
...decade ago. One day before the conviction, a reluctant Ronald Reagan signed into law a bill extending the counsel provisions of the ethics measure for five years. Meanwhile, Washington was bracing itself for the possibility of a raft of criminal indictments in another probe by a special prosecutor: the Iran-contra investigation...
...addition to Lawrence Walsh, a Wall Street lawyer who is handling the Iran-contra probe, two other independent counsel are at work on investigations...