Word: vetoes
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Notably absent from the G.O.P. plan are full details on just how it would carve out its $270 billion in expected savings, the amount the party must find to meet its goals of both balancing the budget and providing a $245 billion tax cut. Clinton, who promises to veto the plan, says he could stabilize Medicare's finances with cuts of less than half that size. Clinton's strategy is to convince voters the Republicans are robbing Medicare to nurture the well-off with...
...chairman Gerald Levin used shuttle diplomacy to pursue an $8 billion merger with Ted Turner's Turner Broadcasting. Spectators watched in bemusement as Time Warner acknowledged its courtship, then appeared to be stymied by cable-TV king John Malone, a Time Warner rival whose Turner stake gives him effective veto power over a deal. But by Sunday, as TIME went to press, Levin and Turner were tantalizingly close to sealing an agreement to create the world's largest media company. "For Levin it's brilliant," says Mario Gabelli, whose Gabelli Funds hold some 5 million shares of Time Warner...
...service program and face increasing premiums (including even bigger increases for affluent seniors). The unveiling of the proposal didn't stop Democrats from renewing some familiar criticisms--namely that the Medicare cuts are intended to fund a G.O.P. tax cut for the wealthy--nor the President from brandishing a veto threat for the plan...
...along with sweeping tax cuts that will be rolled into a jumbo bill carrying out the G.O.P.'s economic agenda. And on top of all that, Congress has yet to complete 12 of its 13 major spending bills--at least four of which face the prospect of a presidential veto...
While President Clinton pledged to veto the sort of Medicare cuts the GOP is promising, House Minority leader Dick Gephardt blasted Republicans for releasing sparse details about their plan to overhaul the health program, and for scheduling only one day of hearings on changes in the plan. Gingrich did not immediately respond to Gephardt's challenge. Although broad details of the Gingrich plan have been made public, congressional correspondent Karen Tumulty reports that no detailed numbers have been provided to show just how the proposal would save $270 billion over the next seven years. "Gingrich's office says they haven...