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(Studio) Report introduced
REPORTER: Tom Brokaw
(DC) President Reagan's post-elec. cabinet meeting to discuss federal deficit and consider tax reform proposals featured; details outlined. OMB director David Stockman's deficit projection graphed on screen, discussed. [During presidential campaign, REAGAN - claims deficit can be reduced through growth.] [Representative James WRIGHT - knew such concept was fantasy.] White House noted backing off today from President's earlier stand on taxes. [November 3, REAGAN - promises no tax increase] Deputy press secretary Larry Speakes' rationalization of possibility of tax increases for some due to loss of deductions noted.
REPORTER: Chris Wallace
- Brokaw, Tom;
- Wallace, Chris
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