OTiiB
Thursday, March 5,1981 The Pendulum Page 3
4-point plan
Reagan economics calls for spending cuts
Lacrossers lack cash
Senators need support
To the editor: It is important for stu
dents to know their govem-
Examining the economic
rationale that supports each
of these proposals seems im
portant. The first proposal,
which deals with controlling
the growth of the 1982
federal budget, is an effort
to curb federal spending in
the public sector, which has
mushroomed from 10 per
cent of the GNP in the early
1900’s to the present 37 to
40 per cent level. Reducing
the growth in federal spend
ing is also expected to re
duce federal deficits and
help alleviate pressure on the
Federal Reserve System to
increase the money supply,
Many economists agree this
should help reduce the rate
of inflation.
Tax cut
The tax cut proposals are
based on what has come to
be called supply-side econ
omics. According to the
supply side economists, a tax
cut will be effective because
it enhances the incentives of
individuals to work, invest,
save and produce. The main
point according to this posi
tion is simple. Whatever en
couraged greater human out
put is anti-inflationary. Cuts
in high marginal tax rates
encourage greater output. At
the upper end of the income
scale, tax cuts make more
income available for invest
ment in better tools and new
enterprises. At the low end,
the cost of leisure will be
raised and this will encou
rage harder work on the part
of those who fall in these
them money to pay for gas
for their games that are
away.
It seems that since the
college hkes the reputation
for excellent sports teams, it
could open up its pockets
and help contribute to a
team that is hard working
and shows potential. These
guys have the ambition and
the skill, how about sonie
money to help them on their
way? In time, they may be
able to add a few trophies to
the collection.
Debra Burke
by Prof. Jim Toney
It is appropriate that Pres
ident Reagan has made the
ills of the American econo
my the number one priority
of his new administration.
In his speech to the Con
gress on Feb. 18, he was
specific in identifying some
of the pressing problems
that plague the economy.
The President reminded
the American public that
double digit inflation con
tinues to take its toll, ac
companied by high interest
rates, unemployment that
approaches 7.5 percent, and
negative annual increases in
productivity. In short, he
characterized the American
economy as out of control.
Reagan proposals
In an effort to come to
grips with these problems.
President Reagan proposes a
comprehensive four-point
program which includes: 1.
A reduction in the growth of
the 1982 federal budget in
the range of $50 billion; 2.
A cut of 10 percent in
personal income taxes in
each of the next three years
plus incentives such as ac
celerated depreciation and
other tax breaks for business
firms; 3. Reform or elimi
nation of goveriunent reg
ulations and red tape; 4. A
consistent monetary policy
where growth in the money
supply will not exceed nor
mal annual growth in the
output of goods and serv
ices.
To the editor:
Elon, for its size, excels in
most areas of sports. We
have an imstoppable football
team, winning basketball
team and a noteworthy base
ball team. There is another
team at Elon that does not
receive much recognition—
the lacrosse team.
These guys work hard and
last weekend, won their first
game of the season. As of
now, they have not received
any money from the college
to support them. The school
has not bought them uni
forms, sticks, or even given
Students of Elon College
have attitudes like a major
ity of United States citizens
at the present. Everybody
complains but very few
stand and take action to
change things. If nobody
a select few are left
with practically a dictator
ship.
ment so that they may
govern themselves. The stu
dent Senate needs input
from a majority of the
students before an adequate
output is achieved. When
the students do not voice
attitudes about affairs con-
cont. on p.4
tax brackets.
Government regulations
President Reagan’s third
major proposal is the reform
or elimination of unneces
sary government regulations.
An article that appeared on
the front page of the Bur
lington Daily Times-News on
Feb. 24, illustrates both the
need for and the rationale
behind this proposal. The
article referred to Alamance
County Hospital’s effort to
get approval from state and
federal government authori
ties to replace a 13-year-old
x-ray machine with a new
$300,000 fluroscopic scan
ner. The hospital adminis
tration estimated that it
would take nine months
to get government approval,
involve at least one hundred
hours of staff time, and
would cost the hospital
$16,000 more in interest
Last Monday morning
when the sun came peeking
through my dorm window, I
awoke and looked out upon
the lawn, expecting to see a
beautiful campus. Imagine
my disappointment to see
nothing but broken beer
bottles, trash, and bits of
paper scattered in every dir
ection. I paused a moment,
recalling the noisy crowds I
had heard during the week
end. Could they account for
the unsightly appearance of
the campus?
Then I thought back to
other weekends that had
resulted in costly destruction
to the dormitories— to the
times when phones had been
deliberately pulled out.
To The Editor:
It has long been a concern
of mine that Elon’s Pendu
lum lacks the sophistication
of many university publica
tions. After being exposed to
a number of college news
papers, I find the Pendulum
wanting, especially in the
area of state, national and
world news.
I am aware of the limi
tations placed on a small
publication such as ours in
reporting this type of news.
I do, however, feel that be
cause the Pendulum may be
the only newspaper a great
charges due to bureaucratic
delay. This is an example of
why health costs have
spiraled and is symptomatic
of how government regula
tions can stiffle productivity
and contribute to inflation.
Money supply
Many economists are con
vinced that President Rea
gan’s fourth proposal may
be the most important rec
ommendation in the entire
Reagan economic package.
This proposal calls for a
constant growth in money
supply at three to four
percent annually.
Economic justification for
such a proposal is based on
the premise that efforts on
the part of the Federal Re
serve System over the last 20
years to stabilize the eco
nomy by manipulating the
money supply has produced
the opposite result — greater
and vending machines
cracked. Our lounge used to
be a comfortable place
where we could relax and
watch television with our
friends. Now there is no
television to enjoy; it has
been destroyed!
As I started to class
Monday morning, I almost
slipped on the stairs where a
trash can had been tipped
over. The floor and steps
were covered with large
pieces of razor-sharp glass
and rusty cans. I realized
that the results of vandalism
on our campus are not only
unsightly and destructive,
but dangerous as well.
Incidents such as those
mentioned above have be
come everyday occurrences
many Elon students will
bother to read, it has a
special responsibility to be
informative in the areas of
government, local and other
wise.
A major portion of the
student body is of voting age
and should be informed on
such issues that will affect
them.
At this point in our na
tion’s history, it is of utmost
importance that individuals
be kept abreast of our
economic situation, political
stance and international
dealings.
I know that the Pendulum
instability. For example,
1980 was a year of un
precedented monetary volat
ility where the money supply
grew at an annual rate of
5.1 percent in the early part
of the year. During the next
five months, the money
supply grew at a rate of 15.9
percent, and ended the year
with another sharp decline.
Reagan advisers are con
vinced the President’s ap
proach will provide greater
stability in financial markets
as well as the economy in
general.
The Reagan economic
package is certain to require
short-run sacrifices on the
part of most Americans. It
points the economy in a dif
ferent direction. More mon
ey will be spent on defense,
while the growth in federal
spending will be reduced.
What our readers say—cotit.
/
Elon campus — a source of pride?
washers and dryers broken,
Pendulum needs national news
at Elon. In the past seven
months I have seen our once
lovely campus wrecked by a
small group of people who
insist upon demolishing our
dorms, buildings, and
grounds.
I used to enjoy walking
across the spacious grounds
with friends who came to
visit me and showing them
our lovely campus nestled
among the oak trees. That
has changed now. One does
not boast about a campus
ruined by broken bottles,
repulsive trash, broken win
dows and other evidences of
vandalism. I hope the time
will come when I can again
say that I am proud of this
campus.
Kathy Weems
may print an occasional
news article, but regularity is
necessary to keep readers
up-to-date on such issues.
During this period of a
new administration, many
drastic changes in govern
ment will be taking place,
affecting us in ways that no
new administration has af
fected us before — changes
that we must be made aware
of.
I suggest that each pub
lication include a large por
tion, detailing national and
world events, however un-
entertaining they might be.
Taz Fields