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Economy: Reagan-Cong. Meeting #553321

NBC Evening News for Monday, Oct 26, 1987
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(Studio: Tom Brokaw) Report introduced.

(DC: Andrea Mitchell) White House and Congress leaders said so frightened by stock market behavior they declared a cease-fire. President Reagan's comment that a quick agreement was needed to aid the economy quoted. [Representative Robert MICHEL - says by the time the meeting was over the market had dropped even more.] Video of Reagan signing Gramm-Rudman Bill shown. [Representative Jim WRIGHT - says we need more than to just patch the inner tube.] [Senator Robert BYRD - says he wants more than cosmetics.] Reagan's broadcast to Europe discussed. President's hesitancy to increase taxes noted. [REAGAN - says a tax burden reduces the economy] Assorted possible taxes discussed. [Econ. Barry BOSWORTH - says no one seems ready to give up his favorite program for the sake of making a real difference.] Analysts' comments that proposed deficits would not be enough answered by White House belief that more than that would be political impossible.

Brokaw, Tom;
Mitchell, Andrea

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