Search the Archive

Economy: Budget / Stock Market / Social Security #313517

CBS Evening News for Tuesday, Nov 17, 1987
View other clips in this broadcast →

Material supplied by VTNA may be used for educational analysis or research only. Any editing, reproduction, publication, rebroadcast, public showing or public display may be prohibited by copyright laws.

(Studio: Dan Rather) Report introduced.

(New York City: Ray Brady) Budget summit mbrs.' slowness to rectify budget deficit situation causing international stock mkts. to plummet reported; details given, scenes shown. [Mkt. analyst Frank KORTH - discusses need for budget deficit to be cut and impact upon stock market] Stk. Mkt. Report [Trader Jack BAKER - says investors will not trade as they had previously because of the indecision in DC.] President Reagan noted being criticized for not acting quickly. [Great Britain's prime minister Margaret THATCHER - describes economy situation in the United States.] Senators' reactions to economy problems and possibility of freezing Social Security for 1 year discussed. [Senator David BOREN - says there is really a crisis.] [Senator Dan. EVANS - says the consequences of a freeze are enormous.] Brokers from around world reported saying real spending cuts have to be made before deficits can be corrected.

(Studio: Dan Rather) The freeze in Social Security and cost of living increase equating to 21 less a month per person receiving benefits reported Report introduced.

(Los Angeles, California: Terry Drinkwater) Reactions to cuts in Social Security and cost of living increase for elderly featured; scenes shown. [WOMAN - says Social Security is her only means of income.] [MAN - says to take more money from the wealthy or cut military spending.] [WOMAN - says she is a widow and has no one to help her.] More than half of United States elderly population reported depending on Social Security for more than half of income. Pearl Kibrey's reasons for needing Social Security featured. [KIBREY - says she needs the benefits for the basics of living which cost a lot.] [WOMAN - says the country must come first.] [MAN - says he can make the sacrifice.] Memories of the Depression reported worrying nation's older people. [MAN - says cut everything except Social Security because he cannot go out and get a job.] [WOMAN - says she has paid taxes all her working life and will fight these proposed cuts.] Elderly voters' future decisions reflecting how cands. stand on Social Security issue mentioned.

Brady, Ray;
Drinkwater, Terry;
Rather, Dan

Note to sponsor members: The Vanderbilt Television News Archive video player requires a modern operating system and browser to work properly. If you are experiencing playback problems, check the minimum requirements and adjust your setup accordingly. After adjustments, if you continue to experience problems, please contact us.

Welcome! Above is the abstract of the item that you're interested in viewing from the Vanderbilt Television News Archive's collection. You have three options if you'd like to view this item:

  • You may request a loan of this video by registering on our website and placing an order.
  • You may visit the Television News Archive on the Vanderbilt campus to view on-site from the Archive's collection.
  • If you are associated with a college or university, you may ask your library if they would like to become a sponsor, which would give students and faculty at your institution the ability to view items from our collection.

If you believe that you are associated with a sponsoring college or university and have received this message in error, please let us know.