This Day In 1970's History: Monday February 2, 1981
- A balanced budget is more important to many more Americans than is a large tax cut, according to the latest New York Times/CBS News Poll. But the survey found little enthusiasm for the reductions in federal spending that President Reagan is likely to propose to balance the budget. [New York Times]
- Americans want to abide by the accord with Iran that won the release of the 52 hostages, but show almost no interest in revenge or amity toward Teheran, according a New York Times/CBS News Poll. The policy that found the most favor, supported by 55 percent of those polled, affirmed that Washington should "ignore Iran and have nothing to do with it." [New York Times]
- A willingness to discuss arms cuts was expressed by President Reagan in an interview in the Oval Office. He said he would confer with Soviet leaders whenever they were ready to discuss "a legitimate reduction of nuclear weapons," but he insisted that the United States should have a military "presence" in the Middle East to deter any "reckless" moves by the Soviet Union. [New York Times]
- The first full-year loss by G.M. since 1921 was reported by the leading auto maker. General Motors managed to earn $62 million in the fourth quarter, but suffered a 1980 loss of $763 million. In the third quarter, General Motors had a loss of $567 million as the American auto industry hit the low point in a sales slump that will result in an estimated loss of $4.06 billion for the Big Three American auto makers -- G.M., Ford and Chrysler. [New York Times]
- Solvency of the Social Security System is the top goal of the Health and Human Services Department, Richard Schweiker said in his first speech as chief of the department. [New York Times]
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