Holding the Line

Reagan vetoes a spending bill

During the congressional battle on raising taxes, Ronald Reagan emphasized that he was still committed to cutting federal spending. Any appropriation bill that threatened to spill over the budget limits previously agreed to by Congress, he said, would be vetoed. His first test came last week: a $14.2 billion supplemental spending bill that provides additional money for fiscal 1982 programs. That amount was both too much and too little to satisfy Reagan, who felt that it shortchanged defense in favor of added domestic outlays. "So even though it...

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!