Word: stockmans
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Kirkland criticized the supply-side theory championed by Budget Director David Stockman. "We are not a nation of guinea pigs who can be expended in the interest of testing unproven economic hypotheses," he said...
...budget cuts also came under initial assault at a hearing of the Joint Economic Committee Senator Edward Kennedy waved a copy of a 1977 press release in which Stockman, then a Congressman, assailed the $3 billion Clinch River Breeder Reactor project in Tennessee as "totally incompatible with our free market approach to energy policy." Kennedy wondered why Stockman was not urging that this project be killed. Democrats suspect it was saved to keep Tennessee's Senator Baker happy, but Reagan is on record as favoring development of breeder reactors as a means of making nuclear plants more efficient...
Wisconsin Democratic Congressman Henry Reuss similarly badgered Stockman for not proposing an end to the tobacco subsidies (even some White House aides admit these were protected partly not to rile conservative Senator Jesse Helms of North Carolina), interest deductions for vacation homes, and the oil depletion allowance. Reuss even asked about a $37 million program for roads in national parks and wilderness areas. Replied Stockman in a revealing aside about the scale of Government spending: "That may be an item we missed. The computers at OMB are programmed to round off at $50 million...
Citing expected cuts in funding for economics research, Brooks said. "This is personal animosity on the part of [David A.] Stockman [director of the OMB and architect of Reagan's spending plan], who fancies himself an economist...
Foreign Aid. When Budget Director David Stockman first floated the idea of drastic foreign aid cuts, Secretary of State Alexander Haig reacted like a challenged general. A diplomatic compromise was soon reached: a 26% cut, down to a $4.8 billion 1982 outlay. "I am not going to pretend the cuts were a flesh wound," says State Department Spokesman William Dyess. "There was bleeding, but we support the cuts." Strategically important commitments to Egypt and Israel will remain mostly intact, meaning that the cuts will probably come from development aid programs involving the Third World. Some experts argue that the Reagan...