Vanderbilt Television News Archive

(Studio: Connie Chung) Report introduced.

(DC: Robin Lloyd) Problems facing White House-Congress budget plan reported [In radio address, voice of President REAGAN - says plan is beginning.] Democrat response noted. [Senator Lawton CHILES - discusses budget deficit plan.] Republican opposition to plan noted. [Senator Orrin HATCH - questions plan.] [Representative John PORTER - says plan just more of same protection of priorities.] Budget- cutting proposals outlined on screen. Problems facing plan without Republican support cited.

(DC: Irving R. Levine) Generalities without specifics said to be budget plan's weakness. [Senator Rudy BOSCHWITZ - says plan has no long-range impact.] Tenets of plan outlined with regard to tax increases, defense spending cuts, Medicare cuts, ntl. debt. rates, farm subsidy cuts, student loans. [Econ. Barry BOSWORTH - contrasts real reductions of Gramm-Rudman law to fake financial transactions on compromise budget plan.] Call from stock market for more substantial plan noted. [Mfrs. Hanover Trust Irwin KELLNER - says market wants deficit eliminated soon.] Possibility stock market, not Congress, will veto current plan.