September 19, 1990 – Politics As Usual – War Dance As Usual – Money As Always
September 19, 1990. Operation Desert Shield was taking shape, and the first casualties from the conflict were being reported. Training accidents, miscalculations on artillery firings. Iraq was beefing up its troop strength, which now numbered over twice the number of coalition forces. Saudi Arabia was eyeing the goings-on nervously and the war of words continued to flow unabated. Meanwhile, on Capitol Hill – the age-old issue of Taxes was rearing its debt-laden head. This time it was issue over a Capital Gains Tax Cut President Bush was pressing for. With 11 days to go before the beginning of the new fiscal year, carping was going into overdrive on both side of the aisle. Senate leaders were saying the talks haven’t collapse, but were instead going to a different stage. As they did in previous days, on this day House and Senate leaders were scheduled to meet in order to decide the next step. Democrats, including Charles Schumer were saying no deal was possible under the present circumstances and that Republicans, led by President Bush were pressing hard for a Capital Gains tax cut. Republican Newt Gingrich blasted Schumer’s assertions saying it was “all baloney”. Still, both sides were looking at what to do, including increased taxes on alcohol and cigarettes to offset the cut as well as introducing a new tax on Luxury goods.
Back to the Persian Gulf, where Iraq has ratcheted up the Economic war. Iraqi Radio reported the Saddam Hussein government froze all cash and property of countries honoring the UN trade embargo of Baghdad. The new law applied to government and privately owned companies and banks. It wasn’t clear just how much money was involved.
And that’s a very small slice of what went on, this September 19th in 1990 as reported by The CBS World News Roundup.