Informal Exchange With Reporters
Mrs.
Reagan's Hospitalization
Q.
Is Mrs. Reagan coming home tomorrow?
Q.
Mr. President, they say that you're just talking -- accommodating progress
instead. You, sir, go ahead, sorry.
The President. I've got two statements
to make today. Yes, both happy. You know about the market. It closed at 186 and
some fraction, and some 450 million shares traded. But the most important day's
news is, at
Q.
And tomorrow night you'll see us in the news conference.
The President. Yes. Well, that's not
as happy as bringing her home.
Q. -- -- Thursday.
Stock
Market Decline
Q.
Is the Wall Street crisis over?
Q.
Is the crisis over?
The President. What?
Q.
Is the crisis over, sir?
The President. The
which is over?
Q.
The crisis with the stock market over, now that it's gone up?
The President. Well, it would appear
to be. Certainly, when more than half of the loss has already been regained,
that sounds as if someone discovered that the economy is still rather sound.
Budget
Deficit
Q.
Jim Miller -- --
Q.
Do you still want to meet with the Democrats?
Q.
The Democrats -- --
Q.
Do you still want to meet with Democrats if the crisis is over? Do you still
need to meet with Democrats?
The President. Oh, yes, because we've
got a crisis that they brought on over the last 50 years of a deficit that's
got to be resolved.
Q.
But you're trying to have it both ways by saying you'll talk to them, but you
still don't want to raise taxes.
The President. Well, I will listen to
what they have to say if they will listen to what I have to say about the fact
that raising taxes has always resulted in a lowering of the revenues.
Q.
Miller says you'll never accept taxing.
Q.
Your budget director said that -- no tax increases.
The President. Does it make you mad
that somebody else is guessing what I think?
Soviet-U.S.
Q.
Do you think you'll have an announcement tomorrow on a meeting with Gorbachev,
a summit meeting? Is it likely?
The President. I don't know. We
haven't heard yet as to what's been happening over there in
Q. -- -- at the news conference tomorrow?
The President. That's an idea.
Q.
What about the War Powers Act?
The President. What?
Q.
What about the War Powers Act -- to say that you've got to go to them on the
War Powers Act or something like that.
The President. Well, I still say it's
unconstitutional. There's a part of it that I think is fine.
Q.
Gorbachev has said yes to the summit.
The President. We've heard that
they've made a statement about wanting a summit, but they haven't officially
notified us. I'd think that they would relate it to the Secretary.
Note: The exchange began
at