Final 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 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
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 November 23.