Word: stockman
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...Stockman should use a slide rule to reconcile the elimination of lunch subsidies with the tax reduction. Basic math could illustrate that the tax cut due a $15,000 wage earner is far outdistanced by the cost of lunch for his two children at $1 per day each, for 180 days. Unless the school board, the food service manager and I can learn more imaginative ways to sling hash, "biting the bullet" may end up on the school menus...
Buchwald's view of Washington is equally predictable. He's adjusted well to the Reagan Administration--to Nancy's conspicuous consumption and the President's Wednesday afternoon horseback-riding, to the Stockman safety net and the Weinberger window of vulnerability. On the cover of his latest book, Laid Back in Washington, Buchwald relaxes on a Lafayette Park bench, the White House in the distance, a Smith-Corona portable in front of him. the clothes have changed temporarily to Reaganesque cowboy duds, but it's the same old Art, grinning slyly from somewhere within the folds of his paunchy face...
Perhaps DSOC wanted to insure an exclusive gathering in order to prevent any opposition to its plan for a debate between David Stockman and liberal Congressman Barney Frank. Some debate. Stockman is Reagan's notorious budget slasher and Frank is infamous for blaming Boston's transit workers for the ills of the MBTA. This is the alternative of the DSOC "socialists" to the massive cutbacks, layoffs and anti-Soviet warmongering of the Reagan Administration: a return to the Democratic Party. "If they don't like jellybeans, let them eat peanuts...
...united front began to crumble in September as it became clear that the package of tax and budget cuts was not making Wall Street bullish. The reason: high interest rates and fear of ballooning federal deficits. Stockman, who saw the spiraling interest rates as a way to justify his budget-cutting offensive in September, began blaming the rates on the deficits. When his plans for shaving Social Security benefits proved politically suicidal, the OMB chief committed himself to a supply-side heresy: he suggested a delay in carrying out some of the tax cuts just passed by Congress...
After Regan's attack on Fed policies, the White House pressured the agencies involved to produce some agreed-upon "guidance" that all spokesmen could adhere to. A memo of understanding, signed by Sprinkel and Stockman's top economic aide, Lawrence Kudlow, among others, said that all concerned agreed on a steady slow growth of the money supply, which the Fed was moving to accomplish. The message ended: "Nothing which has been said in recent days indicates a retreat from that commitment." A White House spokesman as much as admitted that concern about economic disunity had been only temporarily...