Word: iran-contra
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Reagan's only substantive public statement on Iranscam last week provoked a minor uproar on Capitol Hill. In a speech to a businessmen's group, the President made the ill-conceived proposal that the Senate Intelligence Committee provide him with its findings on the Iran-contra matter. That way, said Reagan, the White House could declassify the information and release it "so the American people can judge for themselves" what the scandal is about. Since the still incomplete probe has found no evidence of presidential complicity in any misdeeds, the report might exonerate Reagan in the eyes of the public...
Though his lobbying business has dried up amid charges of illegal influence peddling, former White House Aide Michael Deaver seemed to be on the rebound. Deaver recently emerged from self-imposed obscurity to advise Ronald Reagan on the Iran-contra crisis. Moreover, an investigation of Deaver's affairs has dragged on for seven months, prompting allies to suggest that Special Prosecutor Whitney North Seymour Jr. had no case against him. Last week, however, a federal court broadened Seymour's authority: several Deaver associates could soon face charges of perjury and obstructing justice, and Deaver might be indicted for lying...
...When the Iran-contra scandal broke, Ronald Reagan, behaving as besieged politicians invariably do, said that "this whole thing boils down to a great irresponsibility on the part of the press." The accusation was false and desperate, and he has not tried to sustain it. Not the American press but an obscure Beirut magazine serving an Iranian faction broke the story of selling U.S. arms to Iran. (The Los Angeles Times was also onto it but feared that first publication might jeopardize the release of hostages.) As for Oliver North, his shadowy activities with the contras have been noted sporadically...
...cocaine overdose. Carr was one of five mercenaries jailed in Costa Rica in 1985 for aiding the contras. Police say there is no evidence of foul play, but some people close to Carr find the death suspicious. In interviews, Carr has said that he made one arms run for the contras from Florida to El Salvador, where weapons were unloaded in the presence of U.S. military personnel. Carr was scheduled to testify about such activities before congressional committees investigating the Iran-contra connection...
...TIME's board expects the slow progress in making budget cuts to continue next year. The deficit in fiscal 1987, which ends next October, will probably ease to $190 billion -- still well above the $144 billion target established by the Gramm-Rudman deficit-reduction law. The economists believe the Iran-contra scandal, among other issues, could distract congressional attention from the job of slashing the fiscal 1988 budget...