Clinton Wins an Important Ally, Stumps in Rural America
WASHINGTON (AP) _ On Friday, the Clinton administration’s 31st day in office:
Federal Reserve Chairman Alan Greenspan gave an important endorsement to President Clinton’s economic program as a serious and credible effort to combat the deficit. He promised to offset the negative effects of spending reductions and tax increases if need be. ---
Clinton stumped in rural Ohio and New York for his plan. He said he’d forego the higher taxes he proposed if Congress failed to accept the spending cuts. ---
Budget Director Leon Panetta told Congress that higher taxes on alcohol and cigarettes probably will be required to pay for the wholesale health-care reforms Clinton will propose.