University Daily Kansan, September 10, 1981
Page 3
Reagan faces decision on cuts, weighs guns v. deficit issue
By United Press International
WASHINGTON—President Reagan heard debate yesterday on how much to spend for U.S. defenses, took conflicting arguments under advisement and readied for next week's decision on the guns vs. deficit issue.
At stake are the twin Reagan pledges to improve America's military might and balance the budget by 1984.
The burgeoning budget deficit has jeopardized both promises and forced the president to plan for $70 billion in 2015 and fund it during the 1983 and 1984 fiscal years.
"Basically, the president reaffirmed his commitment to balance the budget in 1984 and have a 7 percent real growth rate in defense" in coming years, said deputy White House press secretary Larry Speakes.
He quoted Reagan as telling his defense budget advisers, "There will be no retreat from our determination to build up our military forces."
During the afternoon meeting in the Cabinet Room, budget director David
Stockman and Defense Secretary Caspar Weinberger 90 minutes presenting differing views, Speakes said.
Weinberger presented one argument calling for no cuts in defense spending, but Speakes said that option was not likely to be selected by the president.
Reagan, who sees his Cabinet today, will most likely call the members together early next week to announce his decision.
Speakes adamantly refused to disclose any numerical goals but said the team would be allowed to do so.
High interest rates and a congressional reluctance to accept all of Reagan's proposed budget cuts have called into question his ability to create the military juggernut he envisioned during the presidential campaign. But Weinberger is resisting any cutbacks in the expansion plans.
Also attending the meeting, which followed a small business lunch on the same subject, were Secretary of State Hillary Rodham Clinton and Bush, Treasury Secretary Donald Regan and Air Force Gen. David Jones, chairman of the Joint Chiefs of Staff.
Asked who would win the Stockman-
nberger face-off, Rosan laughs at
them.
Reagan's aides have said he may have to trim some $30 billion from Pentagon spending during 1983 and that has been criticized by Weinberger.
During the working lunch, Stockman presented figures to Reagan indicating the budget deficit was being driven up by such things as Social Security, changes in certain entitlement programs, such as placing a spending cap on Medicaid payments, and alterations in nutritional programs.
Speakes said, however, that Reagan was not planning to take another crack at the entitlement programs.
"We are faced with additional budget deficit figures, which Stockman has presented to the president," Speaker said. "However the president has requested that he hold the line (on the deficit) with a strong, tough stand at $4.25 billion."
By TERESA RIORDAN Staff Reporter
Diversity of checking requirements gives KU students a wide choice
Free checking accounts in Lawrence are hard to come by for most KU students, unless they have a job at the University of Kansas.
The SECU pays 6 percent interest on all accounts and charges only the first 30 checks each month, according to John Johnson, loan officer.
Students employed by the University can get free checking at either one employee credit or the Scholars' Credit Union or KU Federal.
KU students who work a minimum of 20 hours at the University and students whose parents are employed by KU can open a checking account that earns 5 percent interest and allows unlimited check writing.
Students who don't work for KU must keep a monthly balance of $300
to $500 to get free checking at Lawrence banks and savings and loans :
- Lawrence Savings Association,
901 Vermont St. The first 5 checks a month are free unless the balance falls below $300. A balance below the minimum incurs a $4 monthly charge.
- Capitol Federal Savings and Loan Association, 1046 Vermont St. Unlimited check writing and 5.25 percent interest. Service charge from $2 to $5 if account drops below $300.
- Douglas County Bank, 9th and Kentucky Streets. Thirty free checks a month, no interest on the account. Service charge from $2 to $6 if the account goes below the minimum $300.
- The First National Bank of
Lawrence, 900 Massachusetts St.
- offers free checking for a minimum
balance of $400. A monthly maintenance fee of $1 to $3 is charged for
accounts that go below the
minimum, as well as a 10-cent charge for each withdrawal or check.
The rest of the area banks and savings and loans offer free checking for accounts with a $500 balance:
- American Savings Association of
  Kansas, 2435 Iowa St. Unlimited
check writing and the account earns
10% interest for 30 days.
The fall below $200 are charged $4.
- Anchor Savings Association, 900 Ohio St. Unlimited check writing,
5.25 percent interest and a $4 a month fee for accounts that fall below $500.
- Lawrence National Bank, 647 Massachusetts St. - Unlimited checking and a $2 to $3 maintenance accounts that fall below the minimum.
- University State Bank, 955 Iowa St.—Unlimited checking and a $1 to $5 fee for accounts below the $500 minimum.
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