Reagan outlines defense buildup and economic plan amid crisis
President Reagan defended a tough defense buildup to pressure the Soviet Union toward arms reductions while rejecting renewed SALT II. He warned that unemployment and inflation require Congress to cut spending and pass a budget, forecasting gradual recovery once taxes rise July 1. He urged a better business climate and downplayed government bailouts for failed firms. He cited outreach to Black Americans as consistent with his longstanding policy.
MENTIONED IN THIS ARTICLE
Reagan
U.S
Soviet Union
Senate
United States
Europe
Congress
House Budget Panel Advances 1983 Package Amid Intra Party Debate
The House Budget Committee approved a 1983 budget plan aimed at trimming the deficit by 78 billion dollars and raising taxes by 31 billion, on a 17 to 12 party line vote after a 15 hour session. The proposal faces a rough path on the House floor with liberal Democrats opposing social program cuts and conservative Boll Weevils criticizing spending cuts and tax hikes, while Rep. James Jones presses for a broader consensus and Rep. Phil Gramm contemplates a possible substitute.
MENTIONED IN THIS ARTICLE
Nancy J.schwerzler
Baltimore Sun
Washington
House Budget Committee
James Jones
Okla
Congress
Democratic Party
Phil Gramm
D-Tex
House
Gramm
Jones
Congress advances 1984 Olympic commemorative coins bill
The House Banking Committee approved a bill to mint up to 42 million in 17 designs of Olympic coins to fund the Los Angeles Games. Private firms would sell the coins under contract, with 30 million guaranteed to the Los Angeles Olympic Organizing Committee and U.S. Olympic Committee.
MENTIONED IN THIS ARTICLE
Washington
Los Angeles
House Banking Committee
Frank J. Annunzio
D-Ill
America
Annunzio
Treasury
Fernand St Germain
Senate
Treasury Department
U.S
Also Mentioned on This Page
Cent
Braniff International Airlines
Middle East
Israel
Golan Heights
Egypt
Chicago
Saucy
S-M-L
Poplin
Dillard's
American Express
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