President Clinton took Senator Bill Bradley (D-N.J.) by surprise on May 12 when he announced his support for Bradley's "trust fund" for deficit reduction. The idea is to reassure voters that the money raised by Clinton's proposals for hefty tax increases would reduce red ink rather than fund new programs. Trouble is, no one--not even Bradley--knows how it would work. And a trust fund wouldn't reduce the deficit any more than putting the money directly into the Treasury.

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