23 Oct 1987
Page 1
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Newspaper
Syracuse Herald Journal
Location
Syracuse, New York, United States of America
Date
Oct 23, 1987
Page
1
Yolanda Wright reveals her top dining choices for a special meal. The Lifestyle feature highlights standout venues, noting ambiance, signature dishes, and value across chosen establishments.
President Reagan announced plans to meet with congressional leaders to discuss deficit reduction with “everything on the table,” including possible tax increases. He warned that market panic could trigger a recession, but urged calm and declined to commit to any tax hike. He named Nicholas Brady to lead a three member task force to probe major exchanges as the Dow tumbled over 500 points.
President Reagan told reporters at a news conference that he is willing to discuss tax increases and would meet with Congress as soon as possible to negotiate a deficit reducing package. Democrats and some Republicans say White House Congress cooperation would calm markets rather than automatic $23 billion deficit cut set for Nov. 20 if no deal. Some conservatives, led by Rep. Jack Kemp, urge veto of any tax increase.
Highlights from President Reagan's news conference cover taxes deficit with openness to talks on a tax increase. He voiced optimism on the economy amid stock market volatility and defended US naval presence in the Persian Gulf. Reagan projected a possible visit by Mikhail Gorbachev to sign a nuclear arms reduction treaty but offered no firm date. Senate and House leaders welcomed his negotiating stance, while Senator Dole signaled readiness to consider higher taxes in a negotiated package.
Colgate star Kenny Gamble aims for calm after pushing Colgate ahead 3-2 as the series shifts to Metrodome. Nottingham stops Homer’s 29 game win streak in a key sports moment.
The government said 38 million Social Security beneficiaries will receive a 4.2 percent benefit increase in January the largest in 52 years. The SSA described the rise as adding about $21 more to the monthly check for the average retired recipient.
U S and overseas markets tumble as the Dow falls sharply, NYSE and American exchanges close early for two days to clear backlog of trades. Computer trading blamed for volatility. volume surges to record levels. Major indices slide with widespread declines across London and Tokyo.
Author Ahmed Osman claims Yuya of the Cairo Museum is Joseph the biblical patriarch. He argues Joseph ruled Egypt under Tuthmosis IV and Amenhotep III between 1423 and 1367 B.C., shaping famine-era grain policy and later guiding his family to Israel. The book cites Genesis chapters 37 to 50 and links Joseph to the coat of many colors.
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