Reagan's Economic Troubles Cloud White House Image
President Reagan faces a tougher economic landscape as the Dow sinks 13 percent from April highs, inflation climbs, and Treasury yields hit 16.14 percent. Savings and loan outflows reach 3.5 billion in July amid investor shifts to higher yields. Despite grim data, Reagan rallies 1,100 Republican contributors at a California ranch, keeping a hopeful tone.
MENTIONED IN THIS ARTICLE
Dow
White House
Treasury
Reagan
California
US Japan trade gap grows as deficits rise
The United States faces a mounting trade deficit with Japan, expected around 15 billion dollars, prompting warnings of renewed friction. White House officials led by William Brock press Japan to open markets, while economists warn of rising political tensions at home and continued high US interest rates fueling the imbalance.
MENTIONED IN THIS ARTICLE
Steve Lohr
New York Times
U.S
Japan
Reagan
William E. Brock
Shimoda Center
Brock
Congress
America
Oiso
Tokyo
Shimoda
Matthew C. Perry
United States
Paul W. Mccracken
University of Michigan
President
Council of Economic Advisers
Japan Foreign Trade Council
Naohiro Amaya
Federal Reserve
Fed
Drawing Board
David Stockman
Defense Department
Tax bill cuts Hike Delinquent Interest and Shelters
Investors gain from the Reagan tax bill but new IRS provisions raise interest on underpayments to 100 percent of the prime rate and allow annual rate adjustments starting 1983. Delinquent taxpayers face higher costs, and investors in questionable shelters may be punished. The impact appears gradual due to audit lags.
MENTIONED IN THIS ARTICLE
Savings and Loan Associations
Washington
Reagan
Senate
National Farmers Union
NFU
Bob Mullins
Agriculture
John Black
Herbert Hoover
LABOR
Carter
Tom Donahue
Aflcio
Gallup’ Pail
Gallup
Congress
Deborah Rankin
New York Times
New York
Internal Revenue Service
IRS
David A. Berenson
Ernst & Whitney
The
Revenue Service
GAO urges long range plan for agriculture research
The GAO urges the Agriculture Department and states to craft a national long range plan for research to meet future food and agricultural needs. It calls for goals, strategies, priorities, and short term actions, noting current planning is inadequate and highlighting federal state cooperation while warning against perceived overreach by Washington.
MENTIONED IN THIS ARTICLE
Washington
UPI
General Accounting Office
Agriculture Department
GAO
Congress
George Brown
D-Calif
House Agriculture
Department Operations Research and Foreign Agriculture
Brown
Federal Research Agency
Science and Education Administration
Agricultural Research Service
Also Mentioned on This Page
David Nyhan
Field
Ronald Reagan
Democratic House
Wall Street
U.s.-Japan
Chicago Tribune
US Department of Agriculture
Allied Corp
the Revenue Service
Berenson
Yeninas
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