{"id":28,"date":"1981-02-25T18:07:49","date_gmt":"1981-02-26T01:07:49","guid":{"rendered":"http:\/\/gashler.com\/nlc\/?p=28"},"modified":"2017-12-06T19:02:22","modified_gmt":"2017-12-07T02:02:22","slug":"congress-must-dci-of-improve-pldfl-7721","status":"publish","type":"post","link":"https:\/\/gashler.com\/nlc\/?p=28","title":{"rendered":"Congress must act\u2026 or improve plan"},"content":{"rendered":"

\"Click<\/a>President Reagan took the first big step toward fulfilling his election mandate from the people when he unveiled his proposals for economic recovery before a joint Congressional session.<\/p>\n

He outlined a program of spending and tax cuts, reduced government regulation, and pursuit of a stable monetary policy – and appealed to Congress to “make this our plan together” to bring down inflation and give the economy a needed shot in the arm.<\/p>\n

“Together, we can embark on this road not to make things easy, but to make things better,” the new President said. “Can we do the job? The answer is yes.”<\/p>\n

The two-fold centerpiece of Reagan’s prescription for “America’s new beginning” encompasses:<\/p>\n

– An aggregate $49.1 billion reduction in fiscal 1982 costs, leading to an end to deficit spending by UM Basically, only defense outlays would be increased.<\/p>\n

– Tax rate cuts for individuals and business. designed to create new jobs and opportunities, strengthen industry, and “give the people room to do what they do best.” The reductions would amount to 30 percent spanning four tax-paying years.<\/p>\n

Will congress, which has the Constitutional responsibility for the budget, buy the Reagan program?<\/p>\n

With the budget deep in red ink, the national debt getting close to the trillion-dollar level, and the prospect of double-digit inflation for the third straight year, the lawmakers are obliged to accept Reagan’s program (at least for the most part) – or come up with a better one of their own.<\/p>\n

The president challenged foes of his plan to propose better solutions. “Have they an alternative,” he asked in his address, “which offers a greater chance of balancing the budget, reducing and eliminating inflation, stimulating creation of jobs, and reducing the tax burden?”<\/p>\n

Initial congressional reaction ranged from wariness, particularly by some liberal democrats, to unrestrained enthusiasm by many Republicans.<\/p>\n

Senate GOP leader Howard Baker said the tax cuts might not pass until next year, “but if we can hold it ( the Reagan plan) together, then we have a chance for the first time in modern times to pass a comprehensive economic package?<\/p>\n

Sen. Charles Grassley, R-Iowa. described the proposals “as probably the most dramatic redirection of the fiscal policy of the federal government since 1932.”<\/p>\n

Speaker Thomas 0’Neill promised the House would act “expeditiously” on Reagan’s program but “as cautiously and fairly as we possibly can. The Democrats will not be obstructionists.”<\/p>\n

Sen. Jake Garn, R-Utah, Senate banking committee chairman, said he would be willing to support “more expenditure cuts than he is asking ”<\/p>\n

Reagan was right when he said the country can no longer procrastinate, thinking things automatically will get better.<\/p>\n

The President has taken the initiative as the people willed by their votes. He has made a good start toward solving distressing economic problems.<\/p>\n

Congress should move without delay to weigh and debate his recommendations and implement a forceful program for recovery.<\/p>\n","protected":false},"excerpt":{"rendered":"

President Reagan took the first big step toward fulfilling his election mandate from the people when he unveiled his proposals for economic recovery before a joint Congressional session. He outlined a program of spending and tax cuts, reduced government regulation, and pursuit of a stable monetary policy – and appealed to Congress to “make this… Continue reading Congress must act\u2026 or improve plan<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[8],"tags":[],"_links":{"self":[{"href":"https:\/\/gashler.com\/nlc\/index.php?rest_route=\/wp\/v2\/posts\/28"}],"collection":[{"href":"https:\/\/gashler.com\/nlc\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gashler.com\/nlc\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gashler.com\/nlc\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gashler.com\/nlc\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=28"}],"version-history":[{"count":2,"href":"https:\/\/gashler.com\/nlc\/index.php?rest_route=\/wp\/v2\/posts\/28\/revisions"}],"predecessor-version":[{"id":2183,"href":"https:\/\/gashler.com\/nlc\/index.php?rest_route=\/wp\/v2\/posts\/28\/revisions\/2183"}],"wp:attachment":[{"href":"https:\/\/gashler.com\/nlc\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=28"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gashler.com\/nlc\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=28"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gashler.com\/nlc\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=28"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}