Reagan, Conferees Mute Voices : They Agree Not to Trade Potshots, Seek Quick Accord

Forced to act by the economic alarm sounded on Wall Street, President Reagan met today with congressional leaders to search for ways to cut the deficit as stock prices tumbled anew. Both sides agreed to mute their verbal warfare and push for a speedy agreement.

“We have to be serious. All of us have to be serious,” House Speaker Jim Wright (D-Tex.) said.

Wright said the White House meeting “didn’t get into any details,” such as tax increases, but did set the groundwork for substantive talks to begin Tuesday on Capitol Hill.

“We’re going to work as hard and fast as we can,” Senate Majority Leader Robert C. Byrd (D-W.Va.) said.

The detailed talks will include six Republican and six Democratic lawmakers and, from the Administration, Chief of Staff Howard H. Baker Jr., Treasury Secretary James A. Baker III and Budget Director James C. Miller, Byrd said.

No Reagan Comment

During a picture-taking session at the beginning of the meeting, Reagan was asked to describe how urgent the talks were. “I’m not commenting,” he said.

Afterward, White House spokesman Marlin Fitzwater said the meeting covered largely logistical and procedural issues and told reporters that there was a “truce on critical comments.”

House Majority Leader Thomas S. Foley (D-Wash.) said “everybody agreed” not to engage in making disparaging remarks about the opposition.

“We intend to succeed,” he said. “Everybody now has a stake in it.”

Rep. Robert H. Michel (R-Ill.), the House minority leader, said the President didn’t comment specifically on any proposal, including the Democrats’ contention that the goal of a $23-billion deficit reduction should be half taxes, half spending cuts.

Exchange of Ideas

“We just had a free exchange of ideas,” he said. “I think we’ve got pretty free latitude to do our thing.” He added that the President’s feelings on many issues were well known.

Senate Minority Leader Bob Dole (R-Kan.) described the morning session with Reagan as “the first move in a high stakes game we can’t afford to lose.

“The federal deficit is public enemy No. 1, and the American people are expecting us to face up to the crisis and produce,” he said.