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(Studio) President Reagan's remarks to new Republican Congress and cabinet on necessary budget cuts quoted.
REPORTER: Bob Schieffer
(DC) President's approval for cuts in domestic spending as well as Pentagon reported; programs affected listed on screen, discussed. Defense Secretary Caspar Weinberger's alleged reaction to President's directives mentioned. OMB director David Stockman said briefing Congress leaders on President's plan. [Representative James JONES - anticipates problems in passage.]
REPORTER: Lesley Stahl
- Schieffer, Bob;
- Stahl, Lesley
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