Word: sacrosanctity
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...even the plans for military spending are sacrosanct...
After the meeting, the White House announced that the President would soon propose major new cuts in federal spending. To emphasize his determination to balance the budget, Reagan has tentatively decided to trim $13 billion from his once sacrosanct defense spending goals over the next three years. His only alternative would be a politically risky move to reduce Social Security benefits. Defense, Social Security and interest on the national debt make up about 60% of the budget, and other programs have already been slashed to barebone levels, prompting street demonstrations by labor unions and other angry groups. Without rollbacks...
Attacking the once sacrosanct military budget is a move persistently pushed by Budget Director David Stockman and stoutly opposed by both Weinberger and Secretary of State Alexander Haig. It seems unavoidable. Between $70 billion and $90 billion in new savings must be found by 1984 to salvage any hopes of a balanced budget, so either some popular domestic programs will have to be abolished altogether, rather than just trimmed, or the Pentagon will have to share in the reductions. Failure to touch the military budget, concedes one presidential aide, will let critics claim that "the President wants to dismantle...
Nonetheless the prime rate remains the bench mark by which most people measure the cost of credit. But a new report by the House Banking, Finance and Urban Affairs Committee suggests that the once sacrosanct prime has become almost meaningless as a guide to what most borrowers-big or little -actually pay. The report, which mainly addresses the prime rate's application to business borrowing, found that it rarely applies to large, profitable corporations. They can usually borrow money at three to four points below prime, a discount reflecting the importance of the volume of their business with their...
...Administration expects. Partly because of this gloomy forecast, Republicans on the Senate Budget Committee agreed during a six-hour meeting Monday night to support a move to trim cost-of-living increases scheduled next year in Social Security pensions and veterans' benefits, two programs that Reagan has ruled sacrosanct...