Reagan Signs 165 Billion Social Security Bailout Plan
President Reagan inked a 165 billion plan to rescue Social Security, raising taxes, freezing benefits, and lifting retirement age. The ceremony on the White House South Lawn united Republicans and Democrats, with leaders like ONeill and Baker lauding the pact and Greenspan noting long term solvency. Beneficiaries face a six month delay in cost of living increases, costing roughly 80 dollars per retiree over the period.
MENTIONED IN THIS ARTICLE
Washington
Reagan
House
Thomas P. O'Neill Jr
D-Mass
America
Congress
White House
Social Security
Alan Greenspan
National Commission On Social Security Reform
Wilson
O'Neill
Senate
Howard H. Baker Jr
Social Security Administration
Reagan Bipartisan Budget Plan Seeks Domestic Increase
President Reagan offers a 1984 budget compromise with higher domestic funding and slightly lower defense to win Senate Republican support. The plan preserves three-year tax cuts, targets about $13 billion more for domestic programs, and requires $35 billion in cuts through 1986 from existing plans. Defense would rise 7.5 percent after inflation, with five-year spending modestly reduced.
MENTIONED IN THIS ARTICLE
Washington
Reagan
Senate
Senate Gop
Howard Baker
James Baker
Edwin Meese
David Stockman
Capitol
Baker
Pete V. Domenici
New Mexico
Robert Dole
Kansas
Finance Committee
Associated Press
Budget Committee
New Economic Figures Point to Recovery Signs
The government reported the national economy grew 3.1 percent in Q1, signaling a likely gradual recovery from the 1981-82 recession. The Dow surged 16.93 to a record 1,191.47 as investors cheered GM's $653.1 million first-quarter earnings, the strongest since early 1979.
MENTIONED IN THIS ARTICLE
New York Stock Exchange
General Motors Corp
Gary Citizens Await Mine Reopen Amid Steel Pullout
A year after U S Steel closed Gary operations on April 17 1969 townspeople face July cutoff of unemployment benefits. Miners like Nick Cavallo with 42 years on the job await word on a possible limited restart in July or August as Mayor Charles neUrges patience amid economic hardship.
MENTIONED IN THIS ARTICLE
U.S. Steel
Gary
Charlesne
Gary Barton
Nick Cavallo
Bluefield
Wright accuses tax dept of shorting McDowell funds
West Virginia state Sen. Lacy Wright charges the Tax Department, under Gov. Rockefeller, with delaying coal severance tax distributions to McDowell County. He says $105,000 from late 1982 and $48,000 in receipts are being withheld, while Tax Commissioner Rose calls the accusation untrue.
MENTIONED IN THIS ARTICLE
Charleston
W.va
Lacy Wright
McDowell
State Tax Department
Rockefeller
McDowell County
Herschel
Ned” Rose III
Wright
Rahall and Manchin Remain Uncommitted on Governor Run
West Virginia officials Nick Rahall and A James Manchin voiced indecision about a 1984 gubernatorial bid while Clyde Lee Jr Jaycees Citizen of the Year week events played in Princeton. Rahall said he has not ruled out a run but will focus on his Fourth District duties. Manchin noted heavy speculation but offered no firm commitment.
MENTIONED IN THIS ARTICLE
Barbara Hawkins
Sta “Iter
Princeton
West Virginia
Nick J. Rahall II
A. James Manchin
Clyde Lee Jr
Jaycees
Rahall
Fourth
Beckley
Daily Telegraph
Fourth District
Manchin
Page Two
Weekend Warmth Then Showers Forecast
The National Weather Service expects Thursday highs in the 50s to near 60 with night lows in the 20s to mid-30s. Friday will be sunny with 50s to mid-60s. Saturday to Monday bring increasing clouds and a chance of showers, with afternoon highs in the 60s and morning lows from the upper 30s to mid-40s.
MENTIONED IN THIS ARTICLE
National Weather Service
Also Mentioned on This Page
Tip O'Neill
The
Commerce Department
GNP
Jerry Jasinowski
National Association of Manufacturers
Larry Speakes
Sen. Wright
New York
Lexington Ave
Toals
Bluefield Daily Telegraph
Princeton Senior High School
Rai
Sereeeene
Beeen Enen
Mountain State News
Meenmeneeeesneensssennr Aoneem
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