Word: stockman
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...proposing $1.7 trillion in military spending in the next six years, could he also keep his promise to balance the federal budget by 1984? No way, his critics had insisted. As the recession further depressed revenues, automatically pushing up social spending, and projected deficits ballooned, even Budget Director David Stockman belatedly advocated a flipflop, urging massive tax increases. Last week Reagan moved toward a difficult decision: he would not keep his pledge to balance the budget, but would hold firm to his 1982 tax cuts and permit only limited tax hikes later. At the same time, he would...
...week. Republican leaders in both the Senate and the House, called to separate gatherings at the White House on Friday morning, expected Reagan to reveal his decision then. Instead he mainly let them air their own views, which conflicted sharply. The Senators urged Reagan to go along with Stockman and hold down budget deficits by supporting heavy tax increases in 1983 and 1984. The G.O.P. House leaders, on the other hand, advised the President to keep the pressure on for large cuts in spending, veto appropriations bills that would break his budget, and hold the line against tax increases...
...spokesman for House Speaker Thomas P. O'Neill (D-Mass.) said O'Neill felt Reagan's "credibility and the credibility of the program he espouses are severely in doubt." He added, "The Speaker says he has known [Stockman] for years and he is subject to whichever way the wind blows...
...Stockman and the administration don't know what they're doing," Brian Delany, a press secretary to Sen. Edward M. Kennedy '54 (D-Mass.), said...
...Delaney added that he saw at least one possible benefit from the Stockman controversy. "Congress will now take a serious look at the programs and philosophy of the Reagan administration," he said...