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July

26

1982

July 26, 1982



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Diary Entry - 07/26/1982

Monday, July 26, 1982

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A meeting to resolve the budget update due before Cong. O.M.B. et al were trying to get an additional cut in defense spending because they said new deficit figures for 5 yrs. would show an increase instead of the decline we had earlier projected as a result of our budget figures. Cap & Geo. Shultz & I must say we were opposed. The new budget forecasts would, it’s true send a msg. to the money mkts. that would be devastating. On the other hand defense cuts would send an equally disastrous msg. to our allies & the Soviets. I said there has to be a 3rd choice that will foreclose sending either msg.—and we worked one out. This problem has been haunting me for a week. Met with Gen. Jusuf, minister of defense of Indonesia. Then Pres. Ahidjo of Camaroon arrived for a meeting & lunch. We have good relations with him & Camaroon is a pvt. enterprise co. which has encouraged Am. Bus. & investment. Then the sad journey to Scott Meese’s funeral. What an exceptional young man he was. Had to return & meet about 80 top C.E.O.’s rounded up by Bill Verity for the Pvt. Initiative task force.