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...supposed to be the tight-fisted party that wants to balance the budget. So we put a balanced-budget provision in the platform, but then we proceed to spend $75 billion to $100 billion in tax breaks. The same people who are talking about a flat tax to broaden the tax base and get rid of loopholes are loading up the platform with provisions that increase the [personal income tax] exemption from $1,000 to $2,000. That is big money-$15 billion just for that one little item...

Author: /time Magazine | Title: Voices Beneath the Harmony | 9/3/1984 | See Source »

...would be minimal, since the target warheads would be demolished without exploding. The Army insisted that Homing Overlay was "completely and absolutely compliant" with the 1972 anti-ballistic missile (ABM) treaty between the U.S. and the U.S.S.R. that banned the deployment of defensive missile systems while allowing experiments to proceed. (The Soviets were permit ted to keep the ABM system they had already built to defend Moscow.) So far, the Soviets have had no official reaction to the Homing Overlay test, even though an electronic spy ship stationed off Kwajalein monitored the entire experiment...

Author: /time Magazine | Title: Bull's-Eye in Space | 6/25/1984 | See Source »

...April, after close consultation with key Congressmen, the Scowcroft commission issued a report recommending that the MX proceed as a short-term, stopgap measure, but that Midgetman be the principal ICBM of the future. The report recommended that the Administration, in order to make room for numerous Midgetman missiles, lift the 850-launcher ceiling that had been incorporated into the original START proposal at the behest of the Joint Chiefs of Staff. The report questioned the Administration's longstanding but widely contested claim that American ICBMs were already vulnerable to pre-emptive attack from the more numerous Soviet ICBMs...

Author: /time Magazine | Title: Battling the Gods of War | 6/25/1984 | See Source »

...tendency of the council last year was to pass resolutions on "political" issues--such as urging that Harvard divest from South Africa--often on no more information than a few hours of discussion. Conversely, this year's body tends to proceed with more caution and to toe the line on political issues. Says Council Vice Chair Brian R. Melendez '86, "Last year, we passed a resolution on it, this year we did a report...

Author: By Mary Humes, | Title: Credibility and conciliation | 6/7/1984 | See Source »

...being taken by William Isaac, chairman of the Federal Deposit Insurance Corp., which was a major participant in the Continental bailout. He argued that the bank's problems proved that still more banking restrictions should be lifted. Said he: "To me, this episode is evidence that we must proceed with deregulation." Isaac blamed the bank's troubles partly on a web of entangling state and federal laws. Continental is unable to open offices to seek consumer deposits outside Chicago, for example, because Illinois statutes prohibit branch banking. That has helped make Charts Continental dependent on large foreign customers...

Author: /time Magazine | Title: A Bad Case of the Jitters | 6/4/1984 | See Source »

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