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Reagan’s Deficit Dilemma Faces Tax Hikes, Spending Cuts
Washington officials warn the 1984 budget deficit could reach 150 to 200 billion dollars. They admit eliminating red ink without tax increases or defense cuts is nearly impossible, and they remain constrained by President Reagan’s opposition to new taxes. Budget Director Stockman wrestles with a plan due by mid January to reduce the shortfall.
MENTIONED IN THIS ARTICLE
Washington
Reagan
David A. Stockman
Pentagon