Word: recessing
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...Reagan Administration is how to keep demands for U.S. countermeasures from boiling over in Congress, where Canada's attitude toward cross-border investment is much resented. A Congressional move to impose a moratorium on large-scale Canadian stock investments in the U.S. was sidetracked prior to the summer recess earlier this month. But a bill that would subject foreign corporate borrowers to the same requirements that apply to U.S. firms is expected to pass easily when the House and Senate reconvene in September...
...powerful lobbyists. Altogether, the bill will reduce federal revenues by $750 billion by fiscal 1986. Senator Edward Kennedy made a last-ditch fight against some of the $33 billion worth of giveaways to the oil industry but accomplished little more than to annoy colleagues anxious to begin the August recess. Democrat James Shannon of Massachusetts similarly tried to reopen debate on these provisions in the House and was resoundingly beaten back. His party, which for decades had dominated budget and revenue debate in the House, had to content itself with the consolation that the President would henceforth be held solely...
...Weinberger almost from the day last January that he moved into the E Ring of the Pentagon, and they have given countless anxious moments to Commander in Chief Ronald Reagan as well. But the legislative timetable permits no further delay. So, before Congress breaks for its monthlong August recess, the Administration hopes to disclose what kind of missile and bomber forces it proposes to deploy to maintain U.S. retaliatory capacity through the rest of the 1980s and probably well into the 1990s...
...general outlines of that revolution are clear-and striking-enough. The mammoth budget bills, passed by Senate and House just before the July Fourth congressional recess, reverse the direction in which Government domestic policy has been heading since 1933. After almost 50 years of expanding federal spending to cushion the poor, elderly and disadvantaged against the shocks of economic life, Washington will reduce both the numbers of people who qualify to participate in federal social programs and, in many cases, the size of the benefits they receive. The goal is to reduce federal nonmilitary spending by nearly $40 billion...
...wife of Senator Robert Dole) and U.S. Appeals Court Judge Cornelia Kennedy, who is known for her hard line in criminal cases. Insiders expect the nominee to be named soon, whatever the sex, to give the Senate plenty of time to begin the confirmation process before its scheduled August recess...