Budget Director David Stockman said it first when he unveiled the Administration's proposals for radical cuts in domestic spending. Treasury Secretary James Baker picked up the refrain in Senate testimony. But no one has voiced the argument against federal revenue sharing more often or more forcefully than Ronald Reagan. He said it again last week when he met with the National Governors' Association at the White House: "There's simply no justification for the Federal Government, which is running a deficit, to be borrowing money to be spent by state and local governments, some of which are now running surpluses."
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