Word: stockmanisms
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...about 19% of the gross national product. And even if the further reductions in domestic expenditures requested by Reagan are passed by Congress, outlays will not fall below 23% of the G.N.P. Unless the budget process can be used to force deep cuts in entitlement programs, Budget Director David Stockman warned the Cabinet last month, the country faces deficits of more than $200 billion...
...details of the Administration's solution emerged last week, and they came from Office of Management and Budget Director David Stockman. There were few surprises. The suggested program provides no new money, relies heavily on voluntarism, and is freighted with pay-as-you-go features. Stockman told a Senate Finance Committee hearing: "Any new program, no matter how meritorious, must be tax-financed in the same bill that creates the new measure...
...group costs, which are usually lower than individual rates. The Administration also said it would back legislation requiring employers to permit the jobless to enroll in the health-care plans of their working spouses. At least 40% of the nation's 11.4 million unemployed have working partners, said Stockman, and nearly one-third of the jobless could retain health benefits that...
...consideration in Congress. That legislation would require that a family be taxed on an employer's contribution to a worker's health insurance if it exceeded a "tax cap" of $175. At present, health-insurance benefits are not taxable to workers. The plan proposed by Budget Director Stockman would lower the amount to $160. If implemented by 1984, the change is estimated to raise an additional $500 million in revenues...
...months. "The Administration's economic policies helped create the problem, and the Administration is obligated to help solve it." The proposal to lower the tax cap to $160 drew some hoots. "The Administration is making a terrible philosophical and political mistake," Republican Senator Bob Packwood of Oregon warned Stockman. "Eventually [the public] will turn and snap at us. You're going down the wrong path if you want to cut off debate on national health insurance...