Word: stockmans
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...most serious dispute centers around the Pentagon's inflation estimate. Secretary of Defense Caspar Weinberger, backed by OMB Chief David Stockman, insists that inflation will fall much faster than most economic forecasters predict. Weinberger has jiggered his budget accordingly by adding billions of dollars worth of armaments. Yet many Pentagon backers in Congress are afraid that support for increased defense spending will quickly erode if Weinberger's economic forecasts prove too rosy and defense estimates start spiraling upward while Congress is simultaneously slashing domestic programs. Says Democrat Sam Nunn of Georgia, long an advocate of rejuvenating the military...
...their will. As chairman of the Senate Agriculture Committee, Helms will play a key role in the passage of this year's farm bill, and he remains stubbornly set to cut way back on food stamps. The Administration has already bowed to the chairman: Chief Budget Cutter David Stockman carefully exempted subsidies for growing tobacco, one of North Carolina's biggest exports, from any reduction...
Electing a Son of Stockman...
...hasn't enjoyed since the days of Nixon's sinister 5 o'clock shadow. Herblock's Haig is an overepauleted, Napoleonic Dr. Strangelove. Not all the press's labels have been so unfriendly, at least at the outset. Reagan's budget-cutting David Stockman is often referred to as "the brilliant 34-year-old conservative," but as Russell Baker noted in a fine, wry column, "Whom the media would destroy they first make young and brilliant." This happens, Baker suggests, less from cunning than from an occupational instinct for building melodrama. Just wait, Baker...
Budget Director David Stockman insists, however, there will be no repetition of that this time. He argues that the outbreak of inflation in the 1960s was caused by the combination of Great Society spending programs, Viet Nam War expenditures and the absence of a tax increase. As long as other Government spending is sharply reduced, Stockman maintains, the increased Pentagon expenditures should not add to price problems...