Nation: Budget Battle

Budget Battle Fighting off big spenders—and big cutters

Were working like s.o.b.s," said House Speaker Tip O'Neill. "I've talked to them all, trying to keep them in line." It took all of O'Neill's persuasive powers last week to keep Jimmy Carter's unbalanced budget for fiscal 1980 from coming apart under twin assaults from big-spending Democrats and from budget-cutting Republicans. The palaver apparently paid off. The House budget resolution to be voted on this week differed only slightly from Carter's version.

He had asked for a $532 billion budget and assumed revenues of $504 billion, with...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!