Word: ponting
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Republican presidential candidate Pete du Pont said yesterday at the Kennedy School that the American people have overestimated the importance of the budget deficit and that maintaining low inflation is his top economic priority...
...Pont, who made his remarks in the course of an hour-long televised program hosted by Marvin Kalb, the director of the Barone Center for Press, Politics and Public Policy, said that the recent Wall Street crash had nothing to do with the long-term economic prosperity...
Yesterday's du Pont interview was the second in a 12-week series of programs moderated by Kalb scheduled to run live on WGBH-Boston and other public television stations around the country...
...event, Iowa voters were in no mood to be patronized on the economy, as Pete du Pont learned to his mild distress. Visiting a weekly newspaper in Onawa, du Pont depicted the stock market crash as a "vote of no confidence" by millions of small investors who did not like the presidential front runners in either party. Loren Sawyer, 27, whose mother publishes the paper, was not about to let that comment pass unchallenged. "I didn't know small, grass- roots investors pulled out," said Sawyer. "I thought it was the investment banks and large firms that panicked." Du Pont...
...much of the price-support budget goes to the wealthiest farmers. During 1985, when $23.7 billion was distributed, only one- third of U.S. farms collected price supports; almost 70% of those payments went to farmers with annual sales of $100,000 or more. Former Delaware Governor Pete du Pont, a Republican presidential contender, proposes to wean farmers from income subsidies over five years, thus producing a $5 billion savings the first year and $75 billion in total. Agrees Harvard Economist Robert Reich: "The benefit of such aid is not as great as the social costs in failing...