Word: slashed
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Dates: during 1980-1989
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...dozen departments and agencies have objected to the reductions suggested by Stockman, who worked out a draconian plan to slash $38 billion from the already reduced 1983 spending levels for domestic programs. Most of the disputes were settled by a panel consisting of Stockman and top White House aides. Commerce Secretary Malcolm Baldrige, for example, was able to save more than $50 million in export and trade assistance programs. Other disputes, unresolved, went to the President. He decided that Labor Secretary Raymond Donovan's $2.2 billion job-training budget would be trimmed by only $400 million, rather than...
...string of astonishing congressional victories, derived from the momentum of the campaign. Reagan entered the White House with a clear-cut set of positions that in his mind (and the minds of many cowed opponents) had been ratified by his sweeping election victory. The agenda?cut social spending, slash taxes, start a big military buildup, voice a stern anti-Soviet line in foreign affairs?was set. The priorities were clear: get the budget and tax cuts through Congress before anything else...
Some rival St. Louis bankers complain, though, that Long is merely a "publicity hound" who can easily afford to slash the prime rate because Southwest has few commercial borrowers paying the low level of interest. Business lending amounts to only about 11% of Southwest's credit portfolio. The bank specializes in mortgage and installment loans to customers in its immediate, largely Italian, neighborhood...
After persuading Congress to slash authorized federal spending for fiscal 1982 by $35 billion last July, Reagan in late September asked for more cuts. He urged Congress to trim an additional $13 billion when it actually got around to appropriating the money. But he never really made clear just which activities he wanted to slash. Congress, lacking guidance, passed a stopgap continuing resolution funding the Government from the start of the fiscal year on Oct. 1 until Nov. 20, an arbitrarily chosen date, while wrangling inconclusively over the regular appropriations bills...
...sure, in the just decreased income tax rates, but in excise (sales) taxes and some levies on business. House Republicans want no part of tax increases and are uncertain how far to push on additional budget cuts. Democrats and some moderate Republicans are even more reluctant to slash spending further...