21. In financial markets, the budget impasse undermined optimism that Congress and Clinton will agree on a plan to eliminate the deficit within seven years. 22. In particular, international investors are impressed with government resolve to eliminate deficits, analysts said. 23. Indeed, the budget agreement could actually slow the progress toward eliminating the deficit because it cuts taxes immediately while delaying most of the cuts in spending.. 24. Indeed, the deficit could be eliminated quicker if the budget deal collapsed. 25. Indeed, at each of these stops Dole has spoken of the battle to balance the budget and the importance of eliminating the deficit to spur the economy. 26. Investors have been rooting for a balanced budget because eliminating the deficit would help bring down interest rates and stimulate economic growth. 27. It relies on a combination of spending cuts and user fee increases, lower interest rates, and higher tax revenue generated by a growing economy to eliminate deficits. 28. Last year, congressional Republicans said the administration was using unrealistically optimistic assumptions as a way of minimizing the scale of spending cuts needed to eliminate the deficit. 29. Most of them campaigned on promises to eliminate the deficit by cutting spending and to spur the economy by cutting taxes. 30. On the other side are GOP lawmakers who believe the deficit must be eliminated before taxes are cut, and they are warning Dole not to propose anything rash. |