Word: deficits
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Dates: during 1980-1989
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Although Administration aides spoke of considerable "arm twisting" by Bush, Cheney's turnabout reflected political and budgetary realities more than a major rethinking of U.S. defense needs. Faced with a lingering $110 billion deficit, Congress long ago abandoned Pentagon plans to increase defense spending each year. Overdue as Cheney's order may have been, the armed services responded by leaking hastily assembled cut lists, studded with base closings and hard-to-cut weapons systems that are immensely popular on Capitol Hill. Conspicuously absent from the lists were such big-ticket items as the Navy's Seawolf attack submarine...
Keverian's promise to support the elimination of retroactivity came a day after he told reporters the move would be "silly" because it would cost the state $100 million in new revenue for this deficit-ridden fiscal year...
House Taxation Committee Chair John Flood (D-Canton), who opposed the capital gains increase and opposes a taxincrease now, suggested that lawmakers work withthe Senate on further budget cuts and then extenda temporary increase in the income tax this springif it is needed to resolve the deficit...
...package is part of an attempt to solvea 1990 fiscal year budget deficit now estimated at$825 million. The House earlier this fall passed abill that combined cuts, savings and non-taxrevenues to lower the deficit by about $350million...
Republican legislative leaders have disputedthe deficit estimate and contend it has beeninflated in a Democratic push for new taxes...