Word: shrink
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...almost as shocking as expected. For fiscal 1982, which ends Sept. 30, Reagan now predicts a deficit of $98.6 billion, by far the biggest ever; the previous record was $66 billion under President Ford in 1976. Even if all his proposals are enacted, Reagan calculates, the deficit would shrink only to $91.5 billion in the coming fiscal year, and would be $82.9 billion in fiscal 1984, the year for which Reagan's 1981 budget message had forecast a small surplus. The inescapable conclusion: somehow in twelve months there had developed a $100 billion misunderstanding...
...stall on the budget for the next three months or so, watching to see what happens to production and employment. If, as Republic can true believers hope, a powerful recovery begins by spring, promising to create many new jobs and raise incomes sharply enough to hike Government revenues and shrink those menacing deficits, much of the present opposition to Reagan's fiscal policy would disappear...
...June, or if the recovery seems weak and shaky, some leaders in the Republican-controlled Senate might well send a high-powered delegation to Reagan to plead for a revamping of the budget. Presumably, they would urge less defense spending and possibly even some tax increases to shrink the deficit. Says Laxalt: "We would owe it to the President to give him our best judgment and advise accordingly...
Reagan's ultimate and overriding mission, as he sees it, is to shrink Government permanently, which he feels can be done only by denying Congress the money to spend. Said he in his speech: "Raising taxes will not balance the budget. It will encourage more Government spending." He also believes that lower taxes will lead to more savings, and thus more money available for investment...
...fringe benefit of his study, Kissebah may have solved the age-old riddle of why it is so much easier for some women to lose weight above the waist (where fat cells may be enlarged) than to slim down their hips. Says he: "It is much easier to shrink fat cells than to do away with them...