December 5, 1995 – CBS World News Roundup – Gordon Skene Sound Collection –
December 5, 1995 – Battle over the Budget less rancorous – Congressional Ethics Panel looks at Newt Gingrich, and the economy is heading into the dumps.
Maybe not an earth-shattering news day, but a news day more typical than others. This one had mostly to do with Capitol Hill. The eternal Battle over the Budget was at least becoming less rancorous than in recent sessions, even thought President Clinton was poised to veto a Republican blueprint for the Budget, while preparing to unveil his own plan to eliminate deficit spending in the next seven years. As White House Spokesman Mike McCurry said – there were a lot of worrisome things going on in the world and dealing with the silliness on Capitol Hill wasn’t one of them. House Budget Chairman John Casick was worried about another stall despite an upgraded status to Rosy as depicted by the Congressional Budget Office whose revised picture of economic projections, showing a lower deficit than the original assumptions the GOP was basing their budget on. The end result was more money available than the Republicans expected. And so it goes . . .
Also on Capitol Hill – Democrats and Republicans on the House Ethics Committee were busy negotiating the appointment of a Special Counsel in the matter of conduct of Speaker Newt Gingrich. The Committee was saying little but pointing out they were making progress, doing a lot of work and all of it was good and the public will find out when they are (good and . . .) ready. And speaking of Ethics- a special mail-in election was underway in Oregon to select a new Senator to replace the disgraced Bob Packwood.
And with all the talk about Budgets and Money and Politics, new projections on economic growth weren’t looking as good as first hoped. Much of it had to do with the index of leading indicators which was down 5%, the second straight decline. The culprit was U.S. Manufacturing which had been slowing recently. Although, true to fashion, some economists saw it as a good thing.
All that, and ethics too were what was going on, this December 5th in 1995 as reported by the CBS World News Roundup.
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