Word: programing
(lookup in dictionary)
(lookup stats)
Dates: during 1980-1989
Sort By: most recent first
(reverse)
...back in the White House last week, the President had to face the sobering reality that his job of overhauling the U.S. economy has barely begun. Even before the program's first tax cut was to go into effect, on Oct. 1, doubts about Reaganomics were proliferating, notably on Wall Street and among Congressmen, aided and abetted by some economists and editorial pundits...
Concern about the deficit, interest rates and the slumping stock market was enough to persuade Reagan last week to try new versions on some parts of his economic program. During a 75-min. meeting on his first morning in the Oval Office after the Labor Day weekend, Budget Director David Stockman told the President that broad new cuts in federal spending would have to be made soon if Reagan were to have any chance of fulfilling his promise to erase
...reality of the new Administration's economic program, of course, turned out to be far different from Reagan's campaign speeches and his Government's early projections. Though industrial production and investment were somewhat higher than most economists expected in view of the high cost of borrowing money, the specter of those larger-than-expected budget deficits soon began to cast a shadow over the whole Reagan program. Says Donald Miller, vice chairman of the Continental Illinois Corp.: "Supplyside economics has been oversold, and people have come to expect too much." Adds Conservative Economist Martin Feldstein, president...
...traditional economists gradually began to shift Reagan's program away from the original supply-side doctrine. Laffer assumed that large tax cuts would not be inflationary because they would stimulate enough business to compensate for the lost revenues by significantly increasing the Government's total tax take. But Reagan's more conservative advisers convinced him that tax cuts-and the inevitable, initially huge budget deficits-would fuel inflation unless accompanied by measures to restrain demand. Thus Reaganomics now includes not only a supply-side tax reduction but also calls for less Government spending and strict control over...
Although the Democrats had no alternative economic program to offer-and have yet to produce one-they immediately pounced on the problems that they saw as inherent in Reaganomics. They charged that the Administration was papering over the fundamental conflict between the President's main goals-stimulating the economy by cutting taxes and slowing down inflation through tight money-resulting in high interest rates and sluggish growth. Compounding the difficulty was Reagan's proposal for a large and simultaneous increase in defense spending...