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Economy: Budget / Medicare / Stock Market #125198

ABC Evening News for Monday, Oct 01, 1990
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(Studio: Peter Jennings) New taxes and planned cuts in budget proposal outlined on screen. Reports introduced.

(White House: Brit Hume) Need to persuade Congress to pass proposed massive tax increases and spending reductions in midst of an election campaign examined; scenes shown of President Bush signing stopgap measure to keep government going; details given of reactions from pressure groups on Capitol Hill. [BUSH - comments.] [Senator Trent LOTT - says this is Senator George Mitchell's budget.] [White House Chief of Staff John SUNUNU - responds to Lott.] [Representatives Newt GINGRICH, Joseph BRENNAN, James TRAFICANT - criticize budget deal.]

(Studio: Peter Jennings) Findings of ABC News poll on budget agreement outlined on screen. Report introduced.

(Washington: George Strait) Proposed changes in Medicare reviewed. [Medicare recipient Mary ENOS - says she will have to cut down on food and medication.] [Internist Dr. Rodney ELLIS - says he winds up subsidizing his Medicare patients with income from other patients.] [Brookings Institution Alice RIVLIN - says elderly must share costs.]

(Studio: Peter Jennings) Report introduced.

(Washington: Stephen Aug) The economics of budget cutting featured. [Former presidential economic adviser Herbert STEIN - comments.] Assumptions behind cutting the deficit outlined on screen. [Economist Allen SINAI - says it is a small dose to cure an economic problem.]

(Studio: Peter Jennings) "Stock Market Report".

Aug, Stephen;
Hume, Brit;
Jennings, Peter;
Strait, George

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