Capitol Journal - Gramm/Rudman
Capitol Journal - Gramm/Rudman
(01:00:00) WETA logo, PBS funding credits (01:00:13) Opens to Representative NEWT GINGRICH promoting the Gramm/Rudman budget balancing act, an unidentified Democratic Representative criticizes the Gramm/Rudman act, Capital Journal host HODDING CARTER - standing outside the Capital Building - introduces show, Capital Journal title screen and animation (01:00:59) Outside the Capital Carter explains the issue of the increasing deficit, on-screen text displays the growth of the National debt and deficit, President RONALD REAGAN in his 1985 inaugural address calls for end to the federal deficit - shot switches midway from him to NANCY REAGAN sitting with GEORGE and BARBARA BUSH, Senator PETE DOMENICI speaks before the Senate Budget Committee about a balanced budget, Speaker of the House TIP O'NEILL at a press conference says that White House has no plan for cutting the federal deficit, Senator PHIL GRAMM at a press conference presents his balanced budget bill, Senator WARREN RUDMAN at same press conference also promotes bill, Senator Gramm appears on the Donahue talk show (01:05:12) Carter back outside the Capital, shots of Joint House-Senate budget conference, Representative DAVID OBEY at press conference promotes House balanced budget bill, various Representatives take the House floor and condemn the Gramm/Rudman budget bill, Dr. RICHARD RAHN of the U.S. Chamber of Commerce speaks about Gramm/Rudman, CHARLES SCHULTZE - economist - says raising taxes is the only way to effectively combat deficit (01:07:30) Carter back outside the Capital segues to discussion he had earlier with Senator Gramm, Senator DON RIEGLE and HOBERT ROWEN of the Washington Post - they discuss the Gramm-Rudman budget bill - why it is being approved, why the President likes it, what it will mean for the economy, why there is opposition to it, the House's counter bill, and the Democrats and deficits cuts (01:16:58) Carter segues to a discussion of the House's counter bill, Carter interviews Representative JIM WRIGHT about his and the House's balanced budget ideas (01:20:04) Carter in the Capital Journal tv studio introduces discussion panel - ELIZABETH DREW of the New Yorker, FRED BARNES of the New Republic, Hobert Rowen of the Washington Post - they discuss whether or not Gramm/Rudman is smart legislation or a hastily formulated election year ploy for voter support (01:26:42) Carter thanks guests and closes out show (01:27:30) PBS funding credits