Budget Counterpunch

The Democrats unveil an alternate plan for the economy

In its opening rounds, the Great Budget Battle of 1981 looked like a shadowboxing exhibition in which the Reagan Administration easily prevailed over little more than token opposition. But last week it suddenly seemed to become more of a slugfest, with the outcome in some doubt. The President's program of draconian cuts in spending and taxes came under increasing attack in both houses of Congress, and from both right and left.

In the Republican-controlled Senate, the plan met an unexpected setback. Two weeks ago 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!