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(Studio) 1982 budget deficit said threatening to get out of hand.
REPORTER: Dan Rather
(Los Angeles, California) President Reagan's consideration of defense spending cuts examined; OMB director David Stockman's efforts with regard to budget noted. [STOCKMAN - comments with regard to future federal employee levels.] Stockman's proposed cuts outlined on screen, discussed; Chief of Staff James Baker quoted on screen with regard to defense budget cuts. Defense Secretary Caspar Weinberger mentioned.
REPORTER: Bill Plante
(DC) Weinberger said reconciled to budget cuts; details given. [Pentagon spokesperson Henry CATTO - notes reasons for Weinberger's acceptance of cuts.] Weinberger's original defense budget recalled; possible weapons affected by new budget listed, shown.
REPORTER: Ike Pappas
- Pappas, Ike;
- Plante, Bill;
- Rather, Dan
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