Order on Emergency
Deficit Control Measures for Fiscal Year 1988
By
the authority vested in me as President by the statutes of the United States of
America, including section 252 of the Balanced Budget and Emergency Deficit
Control Act of 1985 (Public Law 99 - 177), as amended by the Balanced Budget
and Emergency Deficit Control Reaffirmation Act of 1987 (Public Law 100 - 119)
(hereafter referred to as ``the Act''), I hereby order that the following
actions be taken immediately to implement the sequestrations and reductions
determined by the Director of the Office of Management and Budget in his report
dated October 20, 1987, under section 251 of the Act:
(1)
Each automatic spending increase that would, but for the provisions of the Act,
take effect during fiscal year 1988 is suspended as provided in section 252.
The programs with such automatic spending increases subject to reduction in
this manner, specified by account title, are: National Wool Act; Special milk
program; and Vocational rehabilitation.
(2)
The following are sequestered as provided in section 252: new budget authority;
unobligated balances; new loan guarantee commitments
or limitations; new direct loan obligations, commitments, or limitations;
spending authority as defined in section 401(c)(2) of the Congressional Budget
Act of 1974, as amended; and obligation limitations.
(3)
For accounts making payments otherwise required by substantive law, the head of
each Department or agency is directed to modify the calculation of each such payment
to the extent necessary to reduce the estimate of total required payments for
the remainder of the fiscal year to the level of resources available after
sequester.
(4)
For accounts making commitments for guaranteed loans and obligations for direct
loans as authorized by substantive law, the head of each Department or agency
is directed to reduce the level of such commitments or obligations to the
extent necessary to conform to the limitations established by the Act and
specified in the Director of the Office of Management and Budget's
determination of October 20, 1987.
(5)
Each Department or agency head may, to the extent not otherwise prohibited by
law, use existing authority to deobligate balances of
budgetary resources as necessary to apply the required reduction or
sequestration in as uniform a manner as possible for any person or other
recipient entitled to payments under any formula-driven calculations specified
in the substantive law. Deobligations may include
budgetary resources obligations for which checks have not been issued or funds
not otherwise disbursed (funds obligated but unexpended).
In
accordance with section 252(a)(4)(A), amounts
suspended or sequestered under this Order shall be withheld from obligation or
expenditure pending the issuance of a final order under section 252(b).
This
Order shall be reported to the Congress and shall be published in the Federal
Register.
Ronald
Reagan
The
White House,
[Filed with the Office
of the Federal Register,
Note: The order was
printed in the ``Federal Register'' of October 21.