Word: stockman
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...White House adviser puts it: "You have a President who, by God, wants to put every penny into defense that he can." That Reagan has apparently decided to increase defense spending less than he originally planned represents something of a victory for David Stockman, Director of the Office of Management and Budget and the Administration's budget-cutting powerhouse. At the start of August, when Reagan was still exulting over his victories in Congress on taxes and budgets, Stockman gloomily informed the President that the nation still faced huge deficits unless Reagan proposed either further reductions in spending...
...Stockman kept up the pressure last week in a series of meetings between Reagan and his Cabinet and economic advisers. By Wednesday afternoon, when he and Weinberger squared off for a 2½-hour showdown session with Reagan in the Cabinet Room of the White House, the budget boss seemed to have the Defense Secretary outflanked. Reagan sat with Vice President George Bush on his right and Secretary of State Alexander Haig on his left; Weinberger sat across the table in a chair with wide spaces on either side. At a picture-taking session before the meeting, a reporter asked...
...David Stockman's Party Joke Book...
Within the Reagan Administration, Budget Director David Stockman and Energy Secretary James B. Edwards are locked in a megabuck battle over the synfuel program. Stockman argues that synfuels will not make a significant contribution to American energy supplies for decades to come, and that private industry, rather than the Government, should pay for the development of projects to turn shale and coal into synthetic oil and natural gas. Edwards, on the other hand, maintains that synfuels will never become viable without Government support because private companies will not spend the billions of dollars needed for the risky programs. The Energy...
...July, Edwards was on the verge of awarding $3.5 billion in loan and price guarantees for three synfuel projects when Stockman tried to cut off the money. After bitter private discussions, the two men had to take the issue to the President for a decision. Reagan surprised some of his closest staffers by agreeing to go ahead with $3.1 billion in loan guarantees for the Great Plains coal gasification project in Beulah, N. Dak., and the Colony shale oil venture near Parachute, Colo. Washington also authorized spending up to $400 million to guarantee the price of oil produced from shale...