Word: stockmans
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...President began his second term, Stockman had the air of weariness that comes from too many losing struggles. Yet he kept at it, arguing that 1985 was the only chance to put aside the political posturing and make major cuts before the opportunity was lost. "Dave is the only one still going at the old man," said a top Reagan adviser earlier this year...
...task will be even more difficult now that the man most dedicated to the cause will no longer be involved. Stockman was the last of the pragmatic group at the White House that placed top priority on the deficit danger. Yet despite his intense zeal on the subject, he was able to discuss it with a sense of humor last week. "I would like to take the deficit with me," cracked Stockman at one of the White House meetings, "but at Salomon Brothers we finance half of it anyway." --By Jacob V. Lamar Jr. Reported by Sam Allis and Christopher...
When David Stockman addressed the board of the New York Stock Exchange last month, he was astonishingly frank about the Government's use of subterfuge in putting together the budget. "We have increasingly resorted to squaring the circle with accounting gimmicks, evasions, half-truths and down right dishonesty in our budget numbers, debate and advocacy," said he. "Indeed, if the SEC had jurisdiction over the Executive and Legislative branches, many of us would be in jail...
...billion in 1986 and $295 billion over three years, but only if the economy realizes some rosy assumptions: a growth rate of 4% over the next 3½ years, inflation holding at 4% and a steady decline in interest rates to 5.5% from the current 9.5%. By contrast, Stockman pointed out, the consensus forecast of top private analysts is for 2.9% real growth, moderately higher inflation and significantly higher interest rates. If the "nation's 50 leading business forecasters are correct," Stockman dryly concluded in his Stock Exchange speech, the result would not be deficits declining toward $100 billion...
...most telling criticism of Regan is that he runs a day-to-day operation in which no one does any long-range planning. David Stockman has been heard to grumble privately that the White House staff no longer seems to have any legislative strategy for more than about three weeks ahead. More generally, one long time Reagan aide asserts, "In the first term, if there was a need, say, for a sophisticated three-month plan for how to use the President's time to achieve some particular goals, Mike Deaver would take four or five people...