Word: rivlin
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Dates: during 1980-1989
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Former Congressional Budget Office (CBO) Chairman Alice M. Rivlin last right downplayed the difficulty of controlling the federal deficit in a speech to a packed audience at the Kennedy School of Government's Institute of Politics Forum...
...Rivlin, who chaired the CBO from 1975 until 1983, said that the country's economic problems are being made more complicated by anxiety in the press and polls...
...refused to enact a tax increase that will not take effect for three years, while the President has ruled out a quicker hike. Moreover, many lawmakers want less defense spending, and more for social programs, than the White House proposed. The result: a budget gridlock. Observed Alice Rivlin, who left her post as director of the Congressional Budget Office last month and is now the head of economic studies for the Brookings Institution: "Congress believes the White House is not serious about raising taxes." Added Heller: "Congress cannot move until the President does...
...Rivlin's final forecast showed the budget gap hitting a record $207 billion this year and then falling gradually to about $145 billion in 1986. Penner's predictions may turn out to be gloomier. Before being named to the CBO post, he warned that if Congress takes no action to curb the deficit and another deep recession hits, the shortfall could reach $300 billion by the late 1980s. While Penner favors cuts in federal spending to help close the budget gap, he also argues that tax hikes are unavoidable. Says he: "The only real questions are how much...
...Rivlin, a Democrat whom some Republicans accused of being too liberal, announced her intention to resign more than a year ago, but political wrangling delayed the selection of her successor. Rivlin endorsed Penner, as did the chairmen of the two congressional budget committees, Republican Senator Pete Domenici and Democratic Representative James Jones. But House Speaker Tip O'Neill attempted to block the choice, preferring a liberal Democrat for the job. Ironically, Penner's calls for tax increases have been putting him at odds with White House policy and rankling a few congressional Republicans. After Penner advocated higher taxes...