No Time to Retreat: Reagan on more arms and no big tax hikes

The President insists on more arms and no big tax hikes in the budget

Full speed ahead for the Reagan revolution—and never mind the recession.

That, in essence, is the message of the President's budget for fiscal 1983, the first he has planned from scratch. Ronald Reagan is calling for slashes in social spending fully as painful as those enacted last year; in fact, total nondefense spending would actually decline slightly for the first time since 1960. Reagan is asking for an increase in military spending even more rapid than his earlier estimates. And...

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!