national
Battalion/Page ■'
February 2,1
Housing sales fall in 1982
United Press International
WASHINGTON
Housing sales for 1982 were
the worst since the govern
ment began keeping such re
cords 19 years ago, but De
cember’s sales were brisk
enough to provide some
hope for an economic recov
ery led by housing.
In all, 413,000 new
houses were sold in 1982,
the Commerce Department
reported Monday. Although
seasonally-adjusted sales of
new homes slowed 8.5 per
cent in December, the
month was the second
strongest of last year.
The average price of a
new home dropped to
$86,100 in December, lower
than November’s record
high by $2,900.
The December 1982 sales
rate represents a 12.9 per
cent improvement over the
rate one year earlier and, if it
holds, 515,000 homes will be
sold this year.
Housing sales have been
increasing since August, and
the improvements have
been seen as an indicator
that the economy is impro-
ving.
The record of a generally
improving trend in housing
sales, with a setback in De
cember, was preceded by an
identical pattern for housing
production.
Housing starts fell 13 per
cent in December, the de
partment reported Jan. 18.
Yet new construction of both
single and multi-family
housing units remained
above the million mark for
the seventh time in eight
months.
keep pressing for major
changes in the nation’s prog
rams to provide housing for
the poor.
The new figures, along
with news of Republic Steel’s
recall of workers and talk of
a possible oil price cut,
sparked a rally on Wall
Street.
The Dow Jones industrial
average, which tacked on
1.10 Friday and 11.77 over
all last week, climbed 10.95
to 1,075.70. It had been
down three and up nearly
Five in the First 90 minutes of
trading.
Housing and Urban De
velopment Secretary Samuel
Pierce says his agency will
Pierce said the major
change being sought by the
administration is a renewed
and revised voucher plan to
aid low-income families who
rent housing in the private
market.
“This program is prop
osed for funding at a $1.36
billion level,” Pierce said.
The Labor Department
reported that first-year wage
increases averaged only 3.8
percent in union contracts
during 1982, the lowest
since the government began
keeping such data 14 years
ago.
Budget battle starts
over defense funds
United Press International
WASHINGTON — Members
of Congress had their First
chance Tuesday to question
President Reagan’s $238.6 bil
lion record Pentagon budget,
expected to trigger one of the
biggest fights of the year on
Capitol Hill.
Defense Secretary Caspar
Weinberger was called before
the Senate Armed Services
Committee to defend the prop
osed military spending plan,
which maintains the momentum
of Reagan’s massive arms buil
dup without sacrificing a single
major weapon.
It was the first of six sche
duled appearances for Weinber
ger on Capitol Hill in the next
two weeks on the budget.
. ‘£ ei .
“We think it’s fully justifi
able,” Weinberger said during a
briefing Sunday.
Even Senate GOP leader Ho
ward Baker has conceded that
some trimming appears inevit
able. He has suggested possibly
another $4 billion should be
sliced beyond the $8 billion
Weinberger already had cut
three weeks ago in the 1984
budget.
is money allocated in oiit|
but spent over several v
Hi
installment paymentso
weapons programs.
1 In- S27 1.1 billion^sj
percent of the total
budget and 6.8 percent 1
nation’s Gross NationalPr|
represents about $1,20(
ery man, woman and
America.
EU
PO
MS
DO YOU LIKE TO HELP OTHERS?
SPRING
“BANANA SPLIT
8c
BLUE JEANS”
RUSH
Wednesday, Feb. 2
Rooms 230-231 MSG
6:30 p.m.
. Please call us for
more info:
Jan Cooper
Mary Ann Wacker
Ginger McGarity
260-6354
260-6607
260-5909
OMEGA PHI ALPHA
National Service Sorority
30% OFF ALL KEEPSAKE
DIAMOND BRIDAL SETS IN STOCK
But some members of Con
gress are talking more in the $25
billion range. Weinberger says
that would mean canceling near
ly all major weapons already
ordered or in this year’s budget:
two nuclear-powered aircraft
carriers, the MX missile. Tri
dent submarine and Air Force
and Navy fighters.
KEEPSAKE. A BEAUTIFUL
WAY TO SHOW YOUR LOVE
When he gives you a Keepsake diamond
engagement ring, you'll be floating on clouds.
And no wonder. A Keepsake is special.
Vfery. For over 90 years Keepsake has been
marrying quality diamonds to exquisite design.
And because Keepsake guarantees the
quality of your diamond and setting for life,
you’ll always have confidence in your choice.
Yiur Keepsake diamond engagement ring.
It’s for keeps. Just like your love.
Keepsake
Proposed defense spending
for 1984 accounts for one-
fourth of the administration’s
recommended $848.5 billion
budget. It is $30 billion or 10
percent above the $208.9 billion
in outlays approved by Congress
last year, while the overall
budget includes a freeze on
many areas of domestic
spending..
The total proposed defense
budget is S274.1 billion, with
$238.6 billion to be spent during
fiscal 1984 only. The remainder
Both Democratic and Hi
lic.m members of Congral
were briefed by Pral
Reagan on his budget)
predicted major cuts.
“1 think Congress isj
mined to get ahold old
spending," said Rep.Bilfe
R-N.Y. “The rest off
beginning to recognal
we’ve got to approach sol
these defense systems '
just got to cut these fanol
curements.”
Sen. Lawton Chiles,!
member of the BudgetG|
tee, said he expectedthds
to gel a fair hearingonGl
Hill.
CA
AC
PI
PR
ON
“ This will not be dist
out of h.md like thelasttJ
was." he said. “Butlthinli
will be major change
budget in order for it top
Congress, and alsoinc
get the deficit downtoij
ageable number.”
cc;
Feb. 1 thru Feb. 14
DOUGLAS JEWELRY
1623 Texas Ave. 212 N. Main
Culpepper Plaza Downtown Bryan
DAMSEL
Rings enlarged to show detail.
Trade-Mark Reg.
(C CLASSIFIED ADS sure to get results))
Come to
NITE FAIR
FEBRUARY 5, 1983
Experience the thrill of victory and the agony of defeat at MSC All-Nite Fair. Begin
ning at 7:00 p.m. on Saturday February 5, all floors of the Memorial Student Center will
be transformed into a carnival midway filled with races, games, thrills, fun, live music,
dancing and prizes.
y ■ . . ' • • . . . '
Activities range from captures, pillow fights, massages, and mock mamage cere
monies to rope climbing, kissing, racing, and testing your skill in various target games.
So, Get into your “playclothes” and join us from 7:00 p.m. to 3:00 a.m. for an all-night
w °rkout with All-Nite Fair. Admission is fifty cents.
Rol
JJ
'jHet'd* Qet PlufAdcal"!