Domenici warns of 200 billion deficit trend through 1986
Senate Budget Committee chair Pete Domenici predicts deficits of 180 to 200 billion dollars annually through 1986 if current policies persist. He urges a tax offset review and a proposed oil import fee to help close the gap while noting 1983 could see a 180 billion shortfall, with recovery remaining weak.
MENTIONED IN THIS ARTICLE
Washington
Pete V. Domenici
Senate Budget Committee
Domenici
R-N.m
U.S. League of Savings Associations
New Orleans
Congress
Social Security faces 25 billion annual deficit by 1982
Washington reports the CBO says Social Security will run a deficit equivalent to 25 billion dollars a year in 1982 dollars over 75 years unless steps are taken. It suggests reducing benefits, raising taxes, or both to erase the gap. The deficit could reach 13 percent in the long run under the trustees' forecast.
MENTIONED IN THIS ARTICLE
Washington
Social Security
Congressional Budget Office
Congress
Social Security Trustees
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