Banner Graphic, Volume 22, Number 104, Greencastle, Putnam County, 4 January 1992 — Page 2

THE BANNERGRAPHIC January 4,1992

Bush considering tax credit for first-time home buyers

WASHINGTON (AP) President Bush is considering a tax credit of up to $2,000 for first-time home buyers as part of the economic-growth package he will unveil in his State of the Union address, administration and industry sources say He likely will also ask Congress to join him in renegotiating a 1990 budget agre -ment so savings from further defense spending cuts can be used domestically to spur the stalled economy, said officials who spoke Friday on the condition of anonymity. THE DEMISE of the Soviet Union made additional defense cuts possible, the officials said. Bush, at a news conference today in Singapore, gave the clearest indication yet that his economic growth package will include a plan to cut taxes. Stimulating the economy may require “alterations in the tax system,” he said. Bush said he would like to put any savings from defense “into the pockets of the American taxpayer if I possibly could.” HE DID NOT rule out transferring funds from the Pentagon’s account, but said it was important to live within the overall constraints of the 1990 budget agreement. The proposal for a $2,000 tax

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PRESIDENT BUSH Redo 1990 budget deal

credit for first-time home buyers is one of several middle-income tax breaks the president is considering as he nears final decisions on his next budget. The credit modeled on a similar tax break in the mid-1970s would only stay on the books for six months to a year and would be designed to provide an immediate stimulus to the economy and the lethargic homebuilding industry. IT WOULD BE available to all

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first-time low and moderate-income home buyers. The tax credit could generate over 200,000 home sales in a year, said David Seiders, chief economist for the National Association of Home Builders. Seiders said the tax credit idea “worked like gangbusters” in the 1970 s and would provide an important spur to the homebuilding industry now. “I think we’re fairly optimistic” that such a proposal will be in Bush’s new budget, he said. THE PROPOSAL in the mid--1970s provided a tax credit of up to $2,000 for the purchase of new homes. Older homes did not qualify for that tax break. Administration officials had not decided whether the proposal this time would be extended to all homes or just to newly constructed ones. In an attempt to break the back of the recession, the president is expected to propose using savings from further defense cuts to help finance a variety of tax breaks and other anti-recessionary domestic programs, the sources said. THE 1990 budget accord sets ceilings on defense spending, foreign aid and domestic spending and bars funds from being switched

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from one category to another. Bush will urge that the ceilings be retained, but that the rest of the agreement be modified to permit savings from defense cuts made possible by the demise of the Soviet Union to be diverted to domestic needs. The president himself appeared to open the door to renegotiating the budget pact, telling broadcaster David Frost “there may be room for some maneuvering.” IN AN INTERVIEW broadcast Friday on the Public Broadcasting Service, Bush told Frost: “There are ways to live within the caps and then juggle around inside, but that would take new legislation.” The president was to spell out major ways for dealing with the recession in his State of the Union address on Jan. 28, and these proposals will be reflected in the budget that goes to Congress on Feb. 3. But Bush has yet to decide on many of the components of the anti-recessionary package, officials said Friday. MEANWHILE, congressional leaders promised speedy action on the economy as they briefly convened their 1992 session on Friday only to recess until later in the month.

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Mother Teresa (left) arrived in Tijuana, Mexico to visit members of her order, the Missionaries of Charity, when she became ill with bacterial pheumonia. Since being

Mother Teresa shows signs of improvement

LA JOLLA, Calif. (AP) Mother Teresa’s efforts to “eat what the poor eat” caused malnutrition that may have contributed to her medical problems, her doctor says. The 81-year-old Roman Catholic nun, who has spent her life caring for the poor of the world, remained in serious condition early today at Scripps Clinic and Research Foundation. She was hospitalized Dec. 26 with pneumonia. HER DOCTORS said she showed signs of improvement in her lungs Friday but developed an irregular heartbeat that was treated by medication. The irregular heartbeat, atrial fibrillation, lasted 10 to 15 minutes and wasn’t life-threatening, doctors Paul Teirstein and Patricia Aubanel said. It was detected by a monitor and Mother Teresa was unaware of it, they said. Although her heart continued to beat irregularly, medication kept that from becoming a serious problem, they said. TEIRSTEIN SAID that atrial fibrillation is a common problem among the elderly and that many are unaware that they have the condition.

Fleeing gunman killed after 300-mile chase

WESTMINSTER, Calif. (AP) Television cameras captured the fatal shooting of a murder suspect killed by police at a freeway exit when the car he was driving ran out of gas after a 300-mile highway chase across California. During the final miles of the pursuit over crowded, rain-slick Los Angeles-area freeways the driver could be seen on television exchanging fire with police and racing over curbs, through a service station, into opposing lanes of traffic, and along freeway shoulders. THE PURSUIT, most of which took place along Interstate 5 California’s main north-south artery wasn’t stopped sooner, authorities said, because of the danger involved. “Basically, what our department will do is chase them until they run out of gas,” said CHP Sgt. Mark Lunn. When the car finally did run out of gas, two California Highway Patrol officers approached with guns drawn and ordered the driver not to move. They opened fire repeatedly, CHP Officer Lyle Whitten said, after the man pointed a 12-gauge, sawed-off shotgun in their direction.

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hospitalized in La Jolla, Calif., the 81-year-old nun has also fought an irregular heartbeat, congestive heart failure, slight anemia and malnutrition. (AP photo)

Pneumonia was Mother Teresa’s main problem, the doctors said, and a chest X-ray showed preliminary signs that her lungs were beginning to clear. Mother Teresa slept well and there were visible signs of overall improvement, doctors said. AUBANEL SAlDMothcr Teresa is slightly anemic and suffers from malnutrition, which may have contributed to her medical problems. “She tries to eat what the poor eat,” Aubanel said. Mother Teresa, who won the Nobel Peace Prize in 1979 for her work with beggars, orphans, lepers and other destitute people around the world, became ill while visiting sisters of her order, the Missionaries of Charity, in Tijuana, Mexico. She was admitted to the hospital the day after Christmas for treatment of bacterial pneumonia. She later suffered chest pain and brief congestive heart failure. Aubanel and Teirstein performed an arteryopening procedure on Sunday. On Wednesday, Mother Teresa experienced a spasm in a small blood vessel. She was treated with nitroglycerin.

THE DRIVER, identified as 22-ycar-old Darren Michael Stroh of Oregon, was hit several times in the neck and chest. He was pronounced dead at the scene. Authorities said the four-hour odyssey began Friday morning near Los Banos, in central California, after Stroh shot and killed a good Samaritan who had slopped to help him after his car had broken down. The shooting was witnessed by a hitchhiker Stroh had picked up just moments before. Authorities said Stroh stole a second car about 55 miles south of Los Banos after getting into an accident. That was when the highway patrol began its pursuit, said CHP spokeswoman Lauric Johnson. WHEN STROH arrived in the Los Angeles area, news helicopters followed the final miles of the chase over the freeway. Their footage was broadcast on local television stations and picked up on at least one national network newscast. Stroh was shot after his car ran out of gas in Westminster, about 20 miles south of Los Angeles, and rolled to a slop on an offramp of Interstate 405. The man authorities said Stroh killed near Los Banos was identified as David Scott Baker, 26, of Castle Rock, Wash.

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