Word: rivlin
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Although board members were generally relieved that Congress had dented the federal budget deficit a bit by adopting a threeyear, $98.6 billion package of tax increases in mid-August, budgetary red ink remains a key concern. Alice Rivlin, director of the Congressional Budget Office, said that analyses done by her staff show a deficit climbing to $155 billion by next year and staying at about that level until 1985. This compares with an earlier forecast indicating that if no action were taken by Congress, the deficit would increase to more than $230 billion...
Future spending slashes will have to come out of defense and the entitlement programs that guarantee benefits to people who meet certain standards, whatever those benefits may cost. Examples are Medicare, Medicaid and, above all, Social Security. Says Alice Rivlin, director of the Congressional Budget Office: "Any significant lowering of the deficit has got to include slowing of the defense increases, entitlement cuts including retirement programs [i.e., Social Security] and probably more taxes, all of those things. It is not a choice. You have to do them...
...will probably reverse before midyear, and in the second half, long-term rates will once again threaten their peaks of 1981." Worse, there are widespread fears that the actual deficit will soar beyond Reagan's projections of $98.6 billion this fiscal year and $91.5 billion in fiscal 1983. Alice Rivlin, Congressional Budget Office director, last week revealed grim...
...that the Reagan Administration has presented its version of the budget, Congress will take over and actually set the spending limits. Alice Rivlin, director of the Congressional Budget Office and a guest at last week's meeting, pointed out that the lawmakers confront "a very new and different situation that budgeters have never been in before." Past budgets have contained projections that deficits would cease within two to four years. Reason: inflation would boost Americans into higher tax brackets and thus increase revenues faster than spending. The Reagan tax-cut bill passed by Congress last summer changed that pattern...
...deficit would be $15.8 billion. It was actually $57.9 billion. Thus, if past performance is any guide, the Reagan estimates are probably too low. Many experts are already saying that the Administration's outlook for $98.6 billion in red ink during 1982 is too optimistic. Alice Rivlin, director of the Congressional Budget Office, predicted last week that the figure is more likely to be $109 billion...