First, Let's Soak the Rich

Resisting big new spending cuts, Clinton is finding it easier to trim the deficit through higher levies, especially on the wealthy

Calling for a sacrifice may win you points in baseball or religion, but in politics it's a riskier proposition. When Bill Clinton used that word in his Inaugural Address, it marked a victory for the deficit hawks among his supporters. This faction of the President's aides, joined by centrist Democrats in Congress, is urging him to take advantage of the new public willingness to accept what Ross Perot calls "shared sacrifice" to balance the budget and revive economic growth.

But as Clinton and his top economic advisers settled into the White House last week and resumed work on the deficit-reduction plan...

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