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President Reagan's Balanced Budget

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President Reagan's Balanced Budget
President Reagan signed the Balanced Budget and Emergency Deficit Control Act, a piece of legislation that attempted to control the federal budget deficit by imposing automatic budget cuts when members of congress were unable to exercise fiscal restraint. Under this Act, the director of the Office of Management and Budget and the director of the Congressional Budget Office would estimate the deficit by programs calculation. Then, the estimations would be sent to the comptroller general of the U.S., who would recommend budget cuts to the president. The president would then issue the automatic budget cuts to go into affect.
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