Volume 42, Number 13 · August 10, 1995
The Budget: Whom Can You Believe?
By Felix G. Rohatyn
When President Clinton came out this June for a balanced budget within ten years, he returned to the economic approach that brought him significant support from many business leaders and economists in 1992. That approach included reducing the deficit in order to achieve lower interest rates and higher rates of capital investment; and it also included encouraging greater US productivity and competitiveness and support for free trade. In putting forward his ten-year program, the President joined congressional Republicans in advocating the principle of fiscal balance, despite their obvious differences on how to achieve it.
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