January 30, 1991 |
The director of the Congressional Budget Office bluntly warned Tuesday that the bank insurance fund will run out of money late this year and will need to borrow cash from the Treasury if it is to continue rescuing depositors in financially crippled banks. But CBO director Robert D. Reischauer said the banking industry, which supports the fund with annual premiums, should be able to repay such borrowing over the next five years, making a direct taxpayer bailout unnecessary.
March 2, 1989 |
Once touted as the best hope for forging a solution to the federal budget deficit, the National Economic Commission went out of business as scheduled Wednesday not with a bang but with a whimper. The 14-member bipartisan panel, established by Congress after the October, 1987, stock market crash to advise whoever was elected President in 1988, broke up in disarray with two separate reports that mirrored the longstanding split between Republicans and Democrats over the issue.
December 17, 1988 |
Ending a lengthy and presumably humiliating delay, President-elect George Bush selected former Texas Sen. John Tower as his secretary of defense Friday, and both men immediately pledged to pare military spending and to reform the tangled defense procurement process. Other transition appointments, including that of Rep. Jack Kemp as secretary of housing and urban development, are expected as early as Monday. Transition sources said Thursday that Kemp had accepted the job after meeting with Bush.
April 24, 1988 |
For former Rep. Gene Snyder (R-Ky.), retirement from Congress meant anything but financial hardship. Within months of leaving the House in 1986, he was back in his old haunts, earning $90,000 by lobbying former colleagues against banning radar detectors in automobiles and trucks. The former top-ranking Republican on the House Public Works and Transportation Committee takes credit for keeping the provision off a bill that raised the speed limit on rural interstates to 65 m.p.h.
January 20, 1993 |
It was the boxes that startled Ronald and Nancy Reagan when they stepped into their new home in Bel-Air on Jan. 20, 1989. Boxes in the kitchen. Boxes in the bedroom. Boxes at every turn. So many boxes that a week later private citizen Reagan complained of a sore back from the unaccustomed bending and lifting. Life in the White House had been nothing like this. Today George Bush faces a similar return to reality.
February 15, 1989 |
When it comes to accepting campaign money from groups representing financial institutions, Rep. David Dreier (R-La Verne), a member of the House Banking, Finance and Urban Affairs Committee, wants to be fair. So he gives the green light to everybody--banks, savings and loans, credit unions and others.