Word: stockman
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...spending statistics that his wondrous computers at the Office of Management and Budget continually cranked out. He was the farm-bred, Harvard-educated wizard who would transform those numbers into the magic by which Ronald Reagan's economic recovery program would prove a smashing success. Even David Stockman's adversaries admired his effectiveness as a promoter of the Reagan cause. At his regular breakfast last week with Treasury Secretary Donald Regan and Chief Economic Adviser Murray Weidenbaum, Stockman was delighted by a birthday cake presented by Regan, his principal rival within the bureaucracy. It was decorated with...
...contrary, "we're a very happy group." Yet, at the end of that same press conference, Reagan learned for the first time that his whiz-kid budget director had brought yet another flap upon the Administration: in an article in the December issue of the Atlantic Monthly, Stockman was quoted as saying some most indiscreet things about the Administration's entire approach to budget balancing and tax cutting. Suddenly, the architect of Reaganomics was in danger of being fired. And for the second time in two weeks, Reagan had to summon a top aide to the White House...
...ashen-faced Stockman called a press conference and announced that he had offered the President his resignation but that Reagan had refused it. With uncharacteristic humility, the budget director apologized publicly for "my poor judgment," "loose talk," "careless rambling" and use of a "rotten, horrible, unfortunate metaphor." Reagan, he said, had given him a verbal thrashing. "My visit to the Oval Office for lunch with the President was more in the nature of a visit in the woodshed after supper," Stockman said. "He was not happy about the way this has developed-and properly...
...week's end Stockman had survived the initial uproar. But the Administration's star had clearly fallen into a black hole, possibly taking Reagan's fading chances to win future economic fights in Congress with him. It was doubly unfortunate that Stockman's self-inflicted wounds came at a time when the nation's economic recession was deepening and the Administration's tax and spending policies were meeting rising resistance on Capitol Hill (see following story...
...ruse to subsidize the indulgence of large-corporations and the affluent with the sufferings of the needy. It's like a trick with mirrors, the political maneuverings, and the legislation, the theories and the ideology covering for a system that guarantees injustice for the larger population. This time. David Stockman got caught in the middle...