NBC Evening News for Saturday, Nov 21, 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. For any such use, please visit NBC NEWS Archives XPRESS.
(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.