100%

Scanned image of the page. Keyboard directions: use + to zoom in, - to zoom out, arrow keys to pan inside the viewer.

Page Options

Download this Issue

Share

Something wrong?

Something wrong with this page? Report problem.

Rights / Permissions

This collection, digitized in collaboration with the Michigan Daily and the Board for Student Publications, contains materials that are protected by copyright law. Access to these materials is provided for non-profit educational and research purposes. If you use an item from this collection, it is your responsibility to consider the work's copyright status and obtain any required permission.

January 07, 1988 - Image 5

Resource type:
Text
Publication:
The Michigan Daily, 1988-01-07

Disclaimer: Computer generated plain text may have errors. Read more about this.

Reagan may
have to
make
further
budget cuts
(ContinuedfromPage 1)
will recycle a number of previously
rejected Reagan proposals. These
include plans to sell to the private
sector Amtrak Railway passenger
service, regional passenger admini-
strations, and the government's naval
petroleum reserves, said other offi-
cials who also insisted on not being
identified.
The document will also call for
sharp reductions in federal housing
construction funds, water treatment
grants, and in a wide range of other
domestic spending programs, the
officials said.
Miller told reporters he hoped
spending levels outlined in the Rea-
gan-Congress budget agreement late
last year, following the stock market
collapse, would be adequate to meet
the fiscal 1989 deficit target of $136
billion.
But, he added, "If we cannot hit
the $136 billion... we'll have to go
outside the agreement for more sav-
ings. But we would achieve those
additional savings consistent with the
spirit of the new agreement."
House Budget CommitteeChair
'William Gray III , D-Pa., said that,
if the administration must come up
with additional savings, it shouldn't
limit itself to domestic spending cuts
but should also consider more defense
reductions and new revenue measures.
"That would be in the spirit of the
budget summit," Gray said in an in-
terview.
Miller said that, while the budget
sets overall limits on defense spend-
ing, foreign aid programs and domes-
tic spending, there is still a lot of
leeway on specific cuts.
"Do not be surprised that the
president's budget (on discretionary.
} domestic spending) will reflect his
priorities," Miller said.
The new budget, expected to be a
shade over $1.1 trillion, would be up'
from $1.05 trillion in the current
fiscal year.

The Michigan Daily-Thursday, January 7, 1988- Page 5
Auto sales for 1987
fall short of record

DETROIT (AP) - Estimated
light truck sales reached a record 4.7
million in 1987, but total 1987 U.S.
passenger vehicle sales lagged behind
the 16 million record set in 1986,
automakers reported yesterday.
Domestic and foreign automakers
sold an estimated 14.9 million cars
and light trucks in the United States
in 1987, down 7.1 percent from the
1986 record.
"It was an excellent truck year and
the total market wasn't bad. It was a
fairly decent car year," said Chris
Cedergren, industry analyst with J.
D. Power and Assoc. In Westlake
Village, Calif.

The year was also marked by a
dramatic, five percentage-point drop
in General Motors Corp.'s share of
the domestic car market. The industry
leader held 55.2 percent of total dom-
estic-car sales at the end of 1986. By
the end of 1987, GM's share wa's
50.2 percent and its sales of North
American-made cars had fallen from
4.5 million in 1986 to 3.5 million
in 1987.
Cedergren said 1986 sales were
boosted by still-new buyer-incentive
programs and by a year's end show-
room rush caused by the 1987 fed-
eral tax reforms, boosts that 1987's
sales lacked.

c aQ pace

i

I

mRIn
STREET
PmOTORS,
Quality Care ForYour Fine Imported Automobile
WEDEE Phone 663'5544
SEIR SVIG. MON.-FRI. 9AM-6PM. 1 ,:.a.
~ MAIN STREET MOTORS
906 North Main Street =N
Ann Arbor, MI 48104

Farm bailout

-Associated Press

President Reagan shakes hands with Sen. Patrick Leahy (D-Vt.) after signing the Farm Credit Bill, yesterday
at the White House. Also attending the ceremony are, from left, Rep. John Dingell (D-Mich.), and Rep. James
Jeffords (R-Vt.). Not pictured are Rep. Bill Schiuette (R-Mich), and Rep. Larry Combest (R-Texas). The
president signed the legislation which will finance a bailout of the indebted Farm Credit System, saying the
bill, "should help alleviate" farmers' financial woes.

Minerock slideskill8,
it"NS ,.I- } To

"A FAMILY TRADITION FOR OVER 37 YEARS"

i'I(JILIc A g: it K7.i1ji AL

ice.

JOHANNESBURG, South Africa
(AP) - Three underground rock
slides killed eight gold miners and
injured 28, the mine's owners said
yesterday.
One of the dead was a miner
searching for a man missing in the
first slide.
The Anglo American Corp. said
the slides at its Vaal Reefs gold
mine were triggered by earth
tremors. The first, on Tuesday,
killed six miners, injured nine and
left one man missing, the company

said.
A second tremor occurred
yesterday, killing one member of the
rescue team searching for the
missing miner and injuring seven
team members.
The tremor also triggered a slide
in a different shaft where normal
work was in progress, killing one
miner there and injuring 12, the
company said.
Vaal Reefs is near Orkney, about
90 miles southwest of Johannes-
burg.

I .

The Universityof Michigan
ice of
Ffancal
Aid A

SPRING/SUMMER 1988
kPPLICATIONS AVAILABLE

VOLKSWAGENS & SUBARUS!

2011 Student Activities Building
Financial Aid Applications for the 1988Spring/Summer term are now available
at the Office of Financial Aid. Applicants must also have the ACT Family
Financial Statement on file with OFA.
The Application must be received in the Office of Financial Aid and the
Family Financial Statement mailed to ACT by the priority deadline:
MONDAY, JANUARY 29, 1988

-. 1-.11._
--,- ;_
-. :

_ _®_
az

. 0- "

THE BEST SELECTION

------..

i1"'? _

- _._

C=- - ._

C

OFFICE HOURS:
Mon.-Fri. 8:15-11:45 and 1:00-4:00
Thurs. 10:00-1t:45 and 1:00-4:00

QUESTIONS?
Call Us!
763-6600

- -- -..
_ _ _..
III

,,,

ANYWHERE...IS ONLY

A h
-Mm-ftftm.-

"DIVERSITY: A PREREQUISITE

:. , _
".-
V V

FOR EXCELLENCE"

40 MINUTES AWAY.

A commemorative symposium
Monday, January 11, 1988
Keynote address:
The Honorable Lawrence Douglas Wilder
Lieutenant Governor of Virginia
4:00 p.m., Hill Auditorium

January 11 and 12, 1988 at
Tuesday, January 12, 1988
Plenary session:
Dr. James Jackson, Associate Dean,
Horace H. Rackham School
of Graduate Studies .
9:00 a.m., Rackham Auditorium

The University of Michigan
Workshops will be held at 10:30 a.m.
and 1:30 p.m. in the Michigan League
and at the University Hospital

l
.- - -

I ,, U.

lb

/ i

i

L

L

-AL

._
r-- -1
. n ....... .

Closing address:
Professor Eleanor Holmes Norton,
Professor of Law,
Georgetown University Law Center
4:00 p.m., Hill Auditorium
Memorial concert:
Roberta Alexander, Soprano,

YARKSCLASSICAUTOWORLD IIIIE
PORSCHE!/ BMW /AUDI / VOLKSWAGEN / SUBARU

By taking a short, pleasant drive down Route
23-to Yark's Classic Autoworld of Toledo-you
will discover the region's largest selection of
Volkswagens and Subarus. At the lowest prices

~j23 OAN ROR

MICH
OHIO

Back to Top

© 2020 Regents of the University of Michigan