THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Saturday, October 14, 1995 TAG: 9510140315
SECTION: FRONT PAGE: A5 EDITION: FINAL
SOURCE: LOS ANGELES TIMES
DATELINE: WILLIAMSBURG LENGTH: Short : 31 lines
President Clinton asked many of the nation's most powerful business leaders Friday to use their influence with congressional Republicans to bring about a compromise on the proposals to balance the budget.
``America needs and demands a balanced budget,'' Clinton said. ``There is no earthly reason why we shouldn't do this.''
Clinton made the remarks to members of the Business Council, which consists of the chief executive officers of 100 of the nation's biggest and most influential corporations. They gather twice a year in Williamsburg to assess economic conditions and hear from top administration officials.
In asking them to pressure Republicans to compromise, the president said, ``You have more influence with those folks than I do.''
Congressional Republicans want to balance the budget by saving $900 billion over seven years, and to offer $245 billion in tax cuts in the process.
Clinton opposes that plan, arguing that it would wreck cherished social programs. He wants smaller spending reductions over a longer period of time - nine years - and would offer a much smaller tax cut than the Republicans. by CNB