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Economy: Federal Deficit #313224

CBS Evening News for Tuesday, Oct 27, 1987
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(Studio: Dan Rather) Report introduced.

(DC: Phil Jones) Senator and House leaders along with White House staffers meeting to cut budget discussed; details given, scenes shown. Reagan's comment that the stock market has alerted everyone of potential danger for the economy quoted. [Senator Robert BYRD - says we have all agreed that political is out the window.] [Senator Robert DOLE -says former beliefs have been thrown out the window because the world changed a few days ago and the economy is threatened.] Deficit negotiations discussed. [Econ. Lawrence SUMMERS - says the crucial thing is to put into place a set of measures that can convince people that the deficit will be all right for a number of years to come.] [Former House Budget Committee chairperson James JONES - says that privately Wall Street people told him that "Reaganomics" did not add up.] Stakes in budget summit said appearing too high for failure. George Soras and investment house of L.F. Rothschild said big losers.

Reporter(s):
Jones, Phil;
Rather, Dan
Duration:
00:02:00

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