Final Order on Emergency Deficit Control Measures for Fiscal Year 1988

 

November 20, 1987

 

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 1987 (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 November 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 permanently sequestered or reduced as provided in section 252. The programs with such automatic spending increases subject to reduction in this manner 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 fiscal year by the amount specified in the Director of the Office of Management and Budget's report of November 20, 1987.

 

(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 report of November 20, 1987.

 

All reductions and sequestrations shall be made in strict accordance with the specifications of the November 20 report of the Director of the Office of Management and Budget and the requirements of section 252(b).

 

This Order shall be effective immediately and supersedes the initial Order issued on October 20, 1987.

 

This Order shall be reported to the Congress and shall be published in the Federal Register.

 

Ronald Reagan

 

The White House,

 

November 20, 1987.

 

[Filed with the Office of the Federal Register, 7:45 p.m., November 20, 1987]

 

Note: The order was printed in the ``Federal Register'' of November 23.