] Under questioning, he acknowledged that Congress was
] unlikely to solve the deficit problem solely by cutting
] spending and would inevitably have to raise some taxes to
] keep deficits manageable. We took his testimony to mean
] that long-term deficit reduction is more important than
] permanent tax cuts. The White House, alas, is taking the
] opposite approach. It wants the tax cuts locked in before
] it provides any serious plan for how to restrain future
] deficits.

[ The White House exercises some seriously selective hearing. All the time. -k]

Mr. Greenspan's Warning