May 18, 1990 |
White House officials and congressional leaders charged with negotiating a bipartisan budget indicated Thursday that they intend to limit any cuts in the federal deficit to no more than $55 billion, and probably less. Such a decision would require rewriting the Gramm-Rudman deficit-reduction law to relax its mandatory targets, with negotiators, in effect, letting themselves off the hook politically by changing the rules of the game.
May 17, 1990 |
Only a day after they had begun talks seeking to end the nation's budget deficit crisis, President Bush and congressional Democrats fell to bickering about who should take the lead in rousing the nation to accept sacrifices. Democratic participants called on Bush to take the first step by appearing on national television to spell out the full dimensions of the crisis and convince the American people that painful steps must be taken.
May 15, 1990 |
Call it "Nightmare on Pennsylvania Ave." The driving force behind the budget negotiations that start today between the Bush Administration and congressional leaders is the fear of political bloodletting this fall if automatic spending cuts are not prevented from going into effect.
May 2, 1990 |
The Democrat-run House narrowly approved a $1.2-trillion budget Tuesday that throws a hard punch at President Bush's defense spending plan but could fall far short of hitting a deficit reduction target required by law. Republican leaders asserted that the Democratic resolution would do "irreparable harm" to the nation's military, and not a single Republican voted for the measure, which carried by 218 to 208.
March 6, 1990 |
Congressional budget experts, adding up for the first time the escalating borrowing needs of the S&L bailout and other economic factors, estimated Monday that President Bush's spending plan would leave the federal deficit at $131 billion next year, almost $70 billion above the level projected by the White House.
January 30, 1990 |
President Bush Monday proposed a $1.23-trillion fiscal 1991 budget that calls for holding a tight rein on federal spending but avoids sweeping changes in government priorities and contemplates only relatively modest tinkering with the vast array of national defense and domestic programs.
December 26, 1989 |
With the Cold War winding down, Keith Geiger has some good ideas about how to spend the "peace dividend." Geiger, the president of the National Education Assn., would shift large sums of money from the roughly $300-billion-a-year military budget to such long-neglected domestic needs as early childhood education and child care. But Sen. Pete V. Domenici (R-N.M.
December 14, 1989 |
In a move that portends deep and rapid military personnel cuts in future years, Defense Department officials have decided to trim 25,000 men and women from the military services in 1990 to meet spending cuts required by the federal deficit-reduction law. Defense Secretary Dick Cheney originally hoped to avoid any troop cuts in the 1990 fiscal year, which began Oct. 1.
December 2, 1989 |
The Bush Administration, as part of the fiscal 1991 budget it will unveil in January, plans to propose that the federal government require chemical companies to pay for the right to produce certain air and water pollutants, Administration officials said Friday. The plan is expected to apply to some toxic pesticides, a handful of chemicals that deplete the ozone layer and perhaps the key pollutant that contributes to acid rain, officials said.
November 24, 1989 |
Budget Director Richard G. Darman is planning a novel maneuver aimed at forcing federal agencies to accept austere funding levels in the Bush Administration's fiscal 1991 budget. In a letter to Cabinet secretaries earlier this week, Darman announced a "competition" in which the agency chiefs will appear before President Bush to plead for a share of a "limited pool" of money set aside to fund high-priority programs. For example, the competition presumably would pit William J.