CAMPAIGN '96: NOT A BANG BUT A WHIMPER

CHURCHILL SAID FAMOUSLY AFTER DUNKIRK, "wars are not won by evacuations." Maybe someone needs to tell the Speaker of the House the same thing about fiscal retreats. Last week, after months of budget stalemate, Newt Gingrich floated a conciliatory plan that could actually reverse course on the deficit. According to his proposal, Congress and the White House would claim victory by adding a "down payment" on a balanced budget to the debt-ceiling extension the G.O.P. now says it will pass next month. The package Gingrich outlined would shave as much as $100 billion from spending during seven years, devoting $25 billion...

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