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Economy #279333

CBS Evening News for Thursday, Sep 10, 1981
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(Studio) Congress Budget Ofc.'s predicted 1982 budget deficit reported; President Reagan's criticism of Wall Street and House speaker Tip O'Neill quoted.
REPORTER: Dan Rather

(DC) Budget Ofc.'s assessment of inflation and budget deficit for next yr. outlined, discussed. [REAGAN - thinks 1981 is the problem; explains.] President's apparent misunderstanding with regard to deficits for 1981 and 1982 explained; OMB director David Stockman's warning of budget cuts outlined. Reagan quoted on screen with regard to economy plan.
REPORTER: Bill Plante

(DC) [Representative David OBEY - notes constituents' concern over high interest rates.] House television tape shown. [Representatives Wes WATKINS, Bryon DORGAN, John ROUSSELOT, Robert WALKER - debate economy program.] [Senator Ted STEVENS - criticizes high interest rates.] Possible political consequences of continuing high int. rates and Democrat's response noted.
REPORTER: Susan Spencer

(Studio) Inflation and high interest rates' role explained; diagrams shown.
REPORTER: Dan Rather

(NYC) Banks reported blaming federal government rather than economy community for problem. [Mfrs. Hanover Trust spokesperson Irwin KELLNER - explains banks' position.] High interest rates' normal rel.with inflation and current situation explained. [KELLNER - notes government's fiscal responsibility.]

Brady, Ray;
Plante, Bill;
Rather, Dan;
Spencer, Susan

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