Status of Budget Talks

Senator Gramm discussed the summit budget talks between Congress and the administration as well as the budget crisis facing the United States. He is the author of two controversial bills. The Gramm-Latta bill was enacted during the Reagan administration to make draconian spending cuts. The Gramm-Rudman-Hollings Act involved automatic budget cuts designed to cut the budget deficit. The former professor of economics at Texas A&M University was elected to the House of Representatives as a Democrat in 1978. He was reelected in 1980 and 1982. In January of 1983 he was denied his seat on the House Budget Committee for conspiring with Republican members and resigned his seat. He was reelected in a special election as a Republican. In 1984 he was elected to the Senate, as a Republican.