A Balanced Budget? Don't Worry, A Deal Is On The Way

This year's strange-but-true budget talks between the Clinton White House and the Republican Congress have resembled a rollercoaster, careening from despair to hope. The outlook for a balanced-budget deal plummeted in mid-March when President Clinton rejected a plan to fix the consumer price index. But prospects soared when House Speaker Newt Gingrich (R-Ga.) made a stunning offer to postpone cherished GOP tax cuts for an agreement. That prompted a buoyant Clinton to invite GOP budgeteers to a make-nice session at the White House on Mar. 19.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.