Word: stockman
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...spending cuts, proposed by Budget Director David Stockman, were presented to Reagan in a thick loose-leaf book. Although the details were not made public, the outlines became clear after a series of high-level White House meetings late last week. The Stockman plan would demand sacrifices from a broad range of citizens in order to uphold Reagan's campaign pledge not to raise taxes, cut Social Security or countenance much slowdown in the U.S. military buildup...
Meanwhile, though, the slowdown is causing deficits to shoot up again. Budget Director David Stockman now estimates that, if nothing is done, the shortfall will rise from $175 billion in fiscal 1984, which ended Sept. 30, to $210 billion in the current financial year and only slightly less in 1986. And these calculations assume renewed growth in the economy that the deficits themselves could all too easily retard. For example, a major cause of the current slowdown is the excess of U.S. imports over exports, estimated at a gargantuan $130 billion this year; this trade deficit is aggravated...
...negative," says one of David Stockman's men down at OMB. "The Democrats are all fighting to avoid change. They cannot get increases in funds, so they are all battling to block the cuts proposed. We have a system for inertia." That...
...serious thought to the next four years, for fear of jinxing his re-election drive. Last week the President and his aides set about the task of writing a script for the second act of the Reagan revolution. The dramatis personae (George Shultz, Caspar Weinberger, Donald Regan, David Stockman), as well as the story line (Central America, arms control, deficits), had a familiar ring...
...first term. Our main purpose was to reduce the rate of increase in Government, and we're going to keep on down that line." The Cabinet sessions were interspersed with a series of intense budget meetings involving Secretaries Regan of Treasury and Malcolm Baldrige of Commerce, Budget Director Stockman and the President's closest White House aides. Reagan held a closed-door, 80-minute session with his two top foreign policy advisers, Secretary of State Shultz and National Security Adviser Robert McFarlane, receiving from Shultz a broad outline of proposals for U.S. initiatives abroad. The President also formally...