THE VIRGINIAN-PILOT
Copyright (c) 1996, Landmark Communications, Inc.
DATE: Tuesday, April 16, 1996 TAG: 9604160341
SECTION: FRONT PAGE: A14 EDITION: FINAL
SOURCE: BY DAVID M. POOLE, STAFF WRITER
DATELINE: RICHMOND LENGTH: Short : 43 lines
U.S. Sen. Charles S. Robb has helped craft a ``centrist'' plan to balance the federal budget in seven years.
The beauty of the plan, Robb said, is that it asks both sides to compromise: Republicans would agree to a smaller tax cut; Democrats would agree to accept bigger cuts in Social Security and other entitlements.
But Robb conceded the approaching presidential election makes it increasingly difficult for the Republican-led Congress and President Clinton to make a deal.
Asked about the success of the centrist budget plan, which likely will be attached to another bill, Robb said, ``I wouldn't bet money that I couldn't afford to lose.''
The Democrat met with reporters at his Richmond office to spoon out more of his bitter medicine for curing the federal budget deficit.
The ``centrist coalition'' plan - endorsed by 22 senators - would freeze discretionary spending, cut the growth in Medicare and Medicaid spending by $206 billion, and reduce annual cost-of-living increases for Social Security and other entitlement programs.
Robb said he would be ``much more Draconian'' to ensure the long-term solvency of Medicare and to stop saddling the next generation with debt.
Robb also said he would postpone any discussion of tax cuts until Congress brings expenditures in line with revenues. But he said he would go along with other members of the centrist coalition who want a $130 billion tax cut.
``There is simply no way to (balance the budget) without goring a lot of oxen,'' he said.
His counterpart, U.S. Sen. John Warner, has not participated in the centrist coalition. Warner, who faces re-election this year, has endorsed a GOP balanced budget plan that includes a larger tax cut and deeper reductions in entitlements.
KEYWORDS: BUDGET by CNB