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Even with all these plans, the deficit would remain frighteningly large. The military-spending reductions and partial freeze on civilian programs, in combination with social-spending cuts that Reagan still hopes to wring out of Congress, would whack about $40 billion out of expenditures in the next fiscal year. But that would still mean spending roughly $175 billion more than the Government could hope to collect in taxes. That deficit would be barely below the $180 billion to $185 billion now expected in fiscal...
Weinberger indeed was the key: if he continued to hold out for the full scheduled increase in military spending, the whole package, including a partial civilian-spending freeze and standby tax increases, would have fallen apart. Reagan, who maintained an essentially passive attitude through the whole affair, never directly ordered Weinberger to look for savings in defense outlays. But the Secretary of Defense saw how Reagan's consensus was shaping up, and volunteered to look for some savings. He reported back with some last week, but continued to argue for a military pay raise of at least...
...slack economy, dismisses the rival supply-side school, which Reagan championed. Supply-siders claim that cuts in tax rates should spur savings and investment and release a torrent of new production. "Our dispute with supply-siders is that their theories are nonsense," retorts Klein. Then he adds, in only partial jest: "They pulled a vast swindle on the American public-so much so that I've often thought that if there were Nuremberg trials for economists, supply-siders would be in the dock...
...England, disguised as a cripple, he somehow upends himself in a rest room--and nearly crushes a fellow passenger when he emerges. In a London hotel, he engages a clerk in a typically baffling conversation--and the misunderstandings caused by his mangled Franglais eventually lead to the partial collapse of the hotel. Sellers pulls off all this slapstick with the deftest of touches--his Clouseau never senses just how much damage he has left in his wake...
Despite the gym's partial reopenig, the three Quad House Committee chairman and College officials or countuing to discuse alternatives to the facilites that remain off limits...