Deficit Trust Fund
President Clinton’s proposed “deficit trust fund” (May 13) is, once again sadly, the triumph of form over substance. The rising level of opposition and dissatisfaction with the Administration’s economic plan is a rejection of the “tax and spend” philosophy and the increasing reallocation of resources toward government and away from families and the private sector.
This new trust fund leaves all of the proposed tax increases completely intact, does not reduce government spending one additional cent, and will leave the country the same $900 billion more in debt by 1996. I strongly recommend that the President, his advisers and Congress spend less time and effort trying to repackage bad policy and more time formulating an economic strategy based on substantive deficit reduction, increased reliance on individuals, families and small businesses, and a narrower, more focused and effective role for government.
JAMES M. FITZGERALD
La Jolla
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