Reagan's Budget Battle

A historic debate on economic theology

All we need to do is act, and the time for action is now," declared Ronald Reagan as he ended a triumphantly successful televised address to a joint session of Congress. And this week both the House and Senate will act. The first crucial votes that may well shape the most drastic turnabout in the Federal Government's economic policies since New Deal days will be taken on the floors of both chambers.

Almost certainly, the recuperating President will win much of what he seeks: a sharp curtailment of the...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

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