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Budget cuts to abolish education and energy proposal
Reagan proposes 16 billion dollars in further 1982 budget cuts, including delaying social security cost of living increases and abolishing the Education and Energy Departments. The plan also defers automatic COLAs for food stamps and veterans benefits, potentially saving about 5 billion in 1982, while Volcker urges deeper cuts to reach a balanced budget. A 10 percent cut across non defense, non entitlements and a phase-out of about 75,000 federal jobs are also proposed.
MENTIONED IN THIS ARTICLE
Cliff Haas
Owen Ullmann
Associated Press
Washington
Reagan
Education and Energy
White House
David Gergen
Federal Reserve
Volcker
Congress
David A. Stockman
Larry Speakes
Speakes
Stockman