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About Oregon daily emerald. (Eugene, Or.) 1920-2012 | View Entire Issue (March 7, 1995)
Groups attack waste of ‘corporate welfare’ Congress and the White Mouse should WASHING TON (AP) — create a nonpartisan commis sion to recommend cutting S2R5 billion in what Labor Secretary Robert Reich has called "corporate welfare." a think tank proposes The moderate Progressive Policy Institute and the con servative Cato Institute joiner] in attacking special-interest spending and tax cuts that benefit businesses and corpo rations at a Capitol Hill forum Monday The Progressive Policy Institute ac knowledged that cutting such "subsidies” will require taking on the Wash ington establishment and urged creation of a commis sion modeled on the Military Base Closing Commission The Commission on National Competitiveness and Industry Subsidies would rec ommend a package of reforms that Congress would he required either to approve or disapprove in its entirety. Amendments would not be permitted. In n speech last November. R*)(-h had < hallenged Repub licans to matt h their call for i hnnges In welfare programs with an overhaul of business tax credits that he termed "corporate welfare ” "Since we are committed to moving the disadvantaged from welfare to work, why not target corporate welfare as weli. and use the savings to help all Amerit ans get tx*tter work," Reich told the Dnirax • ratii Leadership Council The Progressive Polity Institute, the council's rescan h irm. released at the Monday's forum an updated "cut-end-invest" budget strat egy outlining how $2f>5 bil lion could lei saved over five years. The study, written by PPI Vice President Robert ] Shapiro, calls for ending or reforming 120 special sjxmd ing and tax subsidies that would result in savings of $1.11 billion in spending and $114 in tax breaks Shapiro -ret ommended redirecting the savings to deficit reduction, public investment and family tax relief Global decline in dollar no crisis WASHINGTON (AP) The dollar plunged to a third straight record law against tho Japanese yen Monday and -wink against other currencies as well Despite the global dumping, tho Federal Reserve was not expected to raist* interest rates Private <s onomists said a Fix! rote hike in tho cur rent turmoil was extremely unlikely unless the dol lar's dot Him turns into a free fall that roils 11 S slot k and bond markets "The Fed isn't going to lack up rates just be* a use the dollar is under pressure," said Br\»< e Steinberg, an tx ononiist at Merrill I snch m New York I bis is not a crisis even though the dollar is going to be searching for a bottom over the next several weeks" Sung Won Sohn. chief economist at Norvvest C'orp in Minnea|Hilis. said a Fed effort to boost the dollar by raising interest rates could bat kfiro bv pushing the US economy into « ns ess ton "The strategy now is for the Fed to lav low and hope the situation stabilizes." he said After trying without sui t ess rhursday and Fri day to prop up the dollar’s value by intervening in currency markets, (! S authorities dm ided Mon day the belter course was to remain on the side lines The dollar continued to drop Monday. falling to 92 HO yen in late afternoon trading in New York, down from a Friday record low of 94 05 It also declined against the German mark, dropping to i -10-12 in,uks the lowest level In nine tnan two years and down from Friday 's close in New York of t 4250 marks The dollar was down against oth er major currencies as well Analvsts would not rule out further i ourdinated dollur-buying by the United States and other i oun tnes such ns effort last Friday by IH central banks Hut they said such purchases would he used pri manly to make sure the dollar’s decline is orderly and doesn’t alarm markets Ihat strategy appeared to (»■ working Analysts said U S markets wore base ally taking the dollar's weakness in stride On Monday, the Dow lottos industrial average managed to eke out n small advance. rising 7.95 to close at 3.997.56 However, the turmoil on the bond market continued, with the yield on 30-year Treasury issues rising to 7.58 }>en ent. i ompared to a Friday close of 7.53 j>ert ent Some credited the relatively minor impact on 1’ S markets to a recognition that the underlying ITS economy is base ally sound The Fed's string of interest rate me leases over the |>.ist year is wide ly perceived to !*• working to bring about a "soft landing" in w hich the economy slow s to a sus tamable pat e without any serious inflation. The slowing U S economy will help over time to reduce Ameru a s huge trade d«fl< it. which is seen right now is the biggest negative influem «• on the dollar The generally ixisitivo outlook for the U S econ omy was highlighted Monday by n report from the Shadow ()pen Market ( mnmittee a group of promi nent private economists who monitor the Federal Reserve For the first time in 30 years, the tInitial States c an achieve stable growth and low inflation in the near term." the group said Hut it warned that if the i antral bank continues tightening credit "the prob ability of a recession m 1996 will increase " Analysts said one of the biggest threats to their generally optimism forrt ast remains the turmoil m Mexico, the United States' third biggest export market I he Mexican peso fell Monday to a record low at t> 5750 pesos to the dollar, a drop of more than at) pen ent sim e Mexico’s current \ < nsis liegail Dei 20 That the current ies of Canada and Mexico are both declining relative to the dollar helps offset inflationary pressures from the dollar's fall against other current ies, analy sts said Gingrich’s lesbian half-sister lobbied Congress Monday WASHINGTON (AIM — Newt Gin grich’s lesbian half-sister joined gay activists lobbying Congress Monday The two of them had a friendly chat at day's end. though she saiil the ascendancy of his party was what drove her into greater activism She said he is not anti-gay but "maybe uninformed." He said he loves her and doesn’t "mix my family with my poli tics." "The Republicans being in control means that some of the support that we've been used to with the Democrats isn't there anymore," Candace Gingrich said os she made her lobbying rounds. "So it's kind of time for all of us to renew our commitment to the things that we find important.” Candace Gingrich, 2H, of Harrisburg, Pa., was invited to join the lobbying effort of the Human Rights Campaign Fund, the nation's largest gay and lesbian political group. She visited her brother briefly after a day of visits with Pennsylvania lawmakers. The family meeting was arranged at the speaker's request by another half-sister, Roberta Brown, 44. a home economic s specialist from Camp Hill. Pa . who was in town to attend a conference Reporters and camera crews were invited in as the three siblings sat together briefly on Newt Gingrich's porch overlooking the Mall Asked about his relationship w ith his sister Candace Gingrich and her politics. Newt Gingrich said, "1 don't know that one has anything to do w ith the other I have a sister who I love a lot. who is my younger sister, period I don't necessarily mix my family with my politics, period." He readily ai knowledged their differ ent views She's a liberal Democrat I'm it conservative Republican Asked repeatedly during her day on Capitol Hill if she felt her brother was anti-gay, Candace Gingrich said no. "He's just maybe uninformed," she said. "Maybe he hasn't had people from both sides giving him information." Asked if she approved of his political agenda, she replied diplomatically, "I certainly admire his efforts to try to mend things economically 1 haven't really dis sected Ins method yet. but I think his intent is good But she stuck to her guns when asked about a comment she has made that she probably would not vole for him. "It's not a family tiling it's not person al,” she said Hut unfortunately wn’re completely in disagreement <m 80 per amt of the issuer And 1 wouldn't vote for somebody that disagreed with mu. so no. ! wouldn't vote for him '* The activists visited dozens of law makers to draw attention to key com erns — from threatened cuts in AIDS funding to problems of job disc rimination t ain dace Gingrich met with Pennsylvania Republu ans Sen Arlen Spm ter and Hep George Gekas, as well as a staff mumlier of Sen Rick Santorum. R-Pa Newt Gingrich told reporters he believes ''AIDS research is very impor tant'' though not more important than research on heart allot ks. breast cancer or other forms of cancer that might affet t children "I think any viral epidemic is very, very dangerous,” he said of AIDS At a breakfast gathering. Gandac e Gin grich thanked tier fellow activists for “not waiting until you have a brother that was speaker to become active ” She said she began telling [ample about her lesbianism al age 20. hut had never spoken to her brother about it "I personally did mil dist oss it with hint Bui my mother called him because she thought ho should know.” she sold "And through her, I found out that his rum tion was pretty mm h one that kind of empowered me because his response was tfiat it s rnv life and I have every right to live it the wav that I feel I should ” But Candai « Cingrit h said her broth er's attitude wasn't adequate us a policy stance My position is that tolerance is not enough.” she said "At this point we have no federal protts turns At any point at the joh we c an he fired just for being gay or lesbian, and (hat's completely unrelated to joh performance or ability "That's disi rimitiuUon That's not tol erance That's something wrong And most American people believe that it's wrong.” Candace Gingrich, who usually spends her days as a sorter for United Parcel Ser ve e. appeared nnfa/ed by the half dozen camera crews surrounding her us slut walked to a Senate office building She said she could stay only a day because she had rugby prat tire hack home in the evening Protestors of Gingrich caused cancellation WASHINGTON (API Five hundred protesters seeking to confront House Speaker Newt Gingrich disrupted a ballroom luncheon and forced cancellation of Gingrich's appearance today The protesters from the group ACXJRN, the Assoc iation of Com munity Organizations for Refonn Now. burst into the Washington Hilton ballroom through the kitchen, waving empty school lunch trays They chanted "No mure cuts!" and "Wo want Newt!" The speaker's plane was delayed and Gingrich was run ning late. When officials with the National Association of Counties informed Gingrich's office of the demonstration, the speaker went from the airport to his Capitol office. ACORN officials said they were concerned about a Repub lican proposal to replace the fed erullv mandated school lunch program with a state-adminis tered system funded by federal block grants Opponents said it could loud to cut* in free and sutv sidtzed school lunches to the poor. Demonstrators took over the head table After about 41) min utes. an ACORN official, speak ing through the commandeered microphone at the speakers' podium, told the protesters to file tiack to their buses. "1 think we got our message across here today.” said Maude of Boston, national president of the ACORN Association Board. $ Easy Money $ compare Oft'Campus Living $470 month for rent, food it utilities* Gx>king every day Washing dishes every day Hassle of commuting parking $ 1.00 washers. $ I (X) dryers $18.16 monthly phone service (•Cost furniihcd by Ftnantlal Aid for I9V4 I<W5) Residence Hull Living S36K month for rent, foot! & utilities* Food prepared for you Dishes washed for you 5-10 minutes w alk to class 50tf washers/free dryers Free local phone service (*< <«i ba-sctl on Spring term tales i For more information, contact University Housing at 346-4277 immediately.
