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...billion from the 1991 deficit and $500 billion over the next five years. If a deal is not reached by Oct. 1, the government could face $100 billion of across-the-board budget cuts. While lawmakers contemplated legislation to avert that sweeping move, the White House threatened to veto such a measure in order to force a resolution of the budget deadlock. Said President Bush at week's end: "We're down to the wire...

Author: /time Magazine | Title: S&L Hot Seat | 10/1/1990 | See Source »

Under the pending resolution, the President would gain authority to issue orders on everything from wage hikes to property ownership. Though his pronouncements would be subject to a veto by the 542-member parliament, that body is so indecisive that Gorbachev would have plenty of leeway...

Author: /time Magazine | Title: Soviet Union All Power to the President | 10/1/1990 | See Source »

...forces in the gulf, General H. Norman Schwarzkopf, firmly denies he has "any disagreement whatsoever with any agreement" between the U.S. and Saudi Arabia. "Storm-in' Norman," as some of his detractors call him, dismisses published reports that he complained to the Pentagon about a Saudi request for veto power over future American action. He adds, "I participated in the formulation of the agreement...

Author: /time Magazine | Title: The Gulf: Who's In Charge There? | 9/17/1990 | See Source »

...Arabia has indeed gone smoothly so far, but its vagueness is causing some uneasiness on Capitol Hill. "There are a number of loose ends to be tied up," says Les Aspin, chairman of the House Armed Services Committee. Senator Sam Nunn says flatly, "We cannot give the Saudis a veto on operations...

Author: /time Magazine | Title: The Gulf: Who's In Charge There? | 9/17/1990 | See Source »

Brazil's fractious Congress has moved quickly to capitalize on the slippage in public enthusiasm. In July it approved an inflationary wage-indexation program that calls for monthly upward adjustments of salaries. The President, whose tiny National Reconstruction Party has only a handful of congressional seats, has vowed to veto the bill, a move certain to be unpopular. To avoid a backlash at the polls two months from now in congressional elections, the government will offer low-income workers a onetime wage bonus. Following through on the rest of his program will depend heavily on the returns from those elections...

Author: /time Magazine | Title: Brazil The Biggest Shake-Up | 8/6/1990 | See Source »

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