Word: antideficit
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Dates: during 1995-1995
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...that will be background noise compared with the unremitting fiscal conservatism that the G.O.P. candidates are likely to preach to an antideficit choir of Perot backers in Dallas. The Democrats can offer only a cacophony of views, ranging from the leftist tract of Jackson to the more centrist perspectives of House minority leader Richard Gephardt of Missouri and Senate minority leader Tom Daschle. Clinton counselor Thomas "Mack" McLarty, relatively conservative, will stand in for the President...
...they could take heart from realizing that they were helping their children and children's children. "People have to make short-term, identifiable sacrifices in exchange for the promise of distant, diffuse and amorphous benefits of a stronger, healthier economy," says Martha Phillips of the Concord Coalition, an antideficit group. "It's a big leap of faith, and what's amazing to me is how many people are willing to make...
...means-testing benefits, Peter Peterson, the investment banker and former Secretary of Commerce who helped found the antideficit Concord Coalition, proposes a detailed plan: households with annual incomes of more than $35,000 would have all their federal benefits, including Medicare, civilian and military pensions, farm subsidies as well as Social Security, reduced on a sliding scale starting at 7.5% and going up an additional 5% for every $10,000 of extra income. At $185,000 or above, households would lose 85% of federal benefits. Peterson figures his plan would save $36 billion annually in Social Security outlays...
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