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December

10

1981

December 10, 1981



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Diary Entry - 12/10/1981

Thursday, December 10, 1981

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Met with Council of Ec. advisors. While one or two spoke of possible tax increases after 1982 the others (majority) said no. Tax increases dont eliminate deficits they increase govt. spending. The general consensus was that our plan is the proper medicine for the recession and we should stick to it. That’s what I intended to do all the time. In N.S.C. decided to go forward with a $100 mil. sale of corn to Poland (on credit). David Rockefeller & his group on our Jamaica plan came by. While things aren’t going as fast as they’d like, progress is being made. It doesn’t take long for a Socialist regime such as they had to louse things up. Now that Mandel is gone & Seaga is trying to bring back Free Enterprise, we want to help. On the budget we’re getting down to the last tough dollars and some of our Cabinet depts. think they’ve done what they can (and they have done darn well) and are now being asked too much. They may be right. But the ball is in my court & I have to make the decisions. Today the House signed a continuing resolution I can sign.