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...Reported by Michael Duffy, J.F.O. McAllister and Karen Tumulty/Washington

Author: /time Magazine | Title: BREAKDOWN | 1/22/1996 | See Source »

...Majority Leader Dick Armey's suggestion that any bill to raise the debt ceiling would also contain far-reaching policy changes such as the elimination of the Commerce Department. "His remarks are dangerous," Mike McCurry told reporters today, adding that the tactic could put U.S. economic security at risk. Karen Tumulty reports: "Armey's comments notwithstanding, there's no Republican strategy on the debt yet. Members are still returning to Washington. Moreover, the White House may have some leverage, given its advantage over Congress in the polls." Interest payments on the national debt are due on February 15th. If Republicans...

Author: /time Magazine | Title: A Reckless Strategy? | 1/22/1996 | See Source »

...Reported by Jeffrey H. Birnbaum, Nina Burleigh, James Carney, Michael Duffy and Karen Tumulty/Washington

Author: /time Magazine | Title: BUDGET: THE INNER GAME | 1/15/1996 | See Source »

...President Clinton during the months of negotiations. Back at the White House, the President was conciliatory, saying talks could be resumed by next Wednesday, and that a budget "is clearly within reach." Bob Dole took a similar line: "We stand ready to continue," he said. But TIME's Karen Tumulty says both sides may want simply to punt the budget football to the '96 elections. "If the negotiations are canceled and there's no deal, Bob Dole's presidential campaign gains what it most needs: a message." Moreover, Tumulty says that may be the only way to resolve their differences...

Author: /time Magazine | Title: Budget Talks Fail Again | 1/9/1996 | See Source »

Three-quarters of EITC benefits go to workers making less than $15,000. Last year it paid $1,400 to Karen Montana, 30, a single mother of two children, ages 4 and 6. Her $13,550 salary as a Head Start teaching assistant in Los Angeles is too low for her to pay taxes, making her ineligible for the per-child credit. With the EITC she got last year, "I caught up on a furniture payment, visited my grandmother in Oakland, bought a bed instead of putting it on credit, and saved a little...

Author: /time Magazine | Title: TAX CUTS: WHO WILL GET THE BREAKS? | 1/8/1996 | See Source »

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