President Tries to Cool Tax-Cut Fever

President Clinton dampened tax-cut speculation fueled by falling budget deficits, saying that “we don’t want to spend money we don’t yet have.” Urged by Republicans to overhaul the tax system, Clinton did not rule out the possibility of a cut next year. But he said any change would have to be fair, good for the economy, make the system simpler and not burden the deficit. White House officials said none of the Republican proposals for a flat tax or national sales tax meets the president’s proposals.