The Lincoln Star from Lincoln, Nebraska • 5

SUNDAY, OCTOBER 4. 199? LINCOLN JOI IRNAL-STAH WORLDfiATIOfJ i- i it 3 Itep. Panetta: Perot plan most specific Fed budget deficit boils down to paying now or paying later ASSOCIATED PRESS Mary Martha Clarkson (left) removes glass fragments from her sister Evelyn Wienecke's hair after a tornado demolished her home (shown through a porch window) Saturday in Pinellas Park, Fla. Florida twisters kill four people ents with visions of their children embittered and impoverished as they labor to pay off a $4 trillion debt Tax, tax, tax Perot's plan to share the pain is built around a 50-cent-per-gallon gasoline tax, taxes on Social Security and medical insurance benefits, higher income tax rates for upper-income Americans, limits on tax deductions for some home mortgages and cuts in entitlement programs. Perot's plan wins the reviews for detail and clarity hands dowa "It clearly is the most specific deficit-reduction plan that's out there," said House Budget Committee Chairman Leon Panetta, D-Calif.

"It's exactly the kind of thing both parties have been reluctant to deal with," said budget analyst Stanley Collender of Price Waterhouse. Tsongas: Legitimate Onetime Democratic presidential contender Paul Tsongas said Perot's deficit reduction plan is "a legitimate and intellectually credible starting point" Tsongas and retiring Republican Sen. Warren Rudman of New Hampshire have begun a national organization to fight for deficit reduction. By comparison, Bush and Clinton risk looking like wimps when they retreat behind the hope that economic growth early in the next presidential term will set the stage for later control of the deficit. Bush and Clinton would flirt with enlarging the deficit by reducing some taxes.

Bush would cut all income taxes 1 percent and reduce most capital gains taxes. Clinton would cut taxes on the middle class. Both would take these seemingly contradictory steps, hoping to inspire economic growth stronger than the anemic 1.8 percent projected for this year. Stronger economic growth would not only reduce unemployment and generate more tax revenues, it would soothe the financial markets and thus keep interest rates low. Bush and Clinton have put forward plans for budget savings.

Clinton vows to put ceilings on medical costs a and also would raise taxes on the top 2 percent of income earners. Both Bush and Clinton would use a line-item veto if one were constitutional, but Bush goes further in asking for a new presidential budget impoundment power that would allow him to stop congressional appropriations he deems unworthy. Presidents had that power until Congress took it away from Richard Nixon in 1974 at the height of the Watergate frenzy. The two major party candidates would embark on unspecified cuts in the government bureaucracy and defense later in the But neither has gone as far as Perot in earmarking political sacred cows such as Social Security, Medicare and veterans benefits which amount to almost two-thirds of federal government outlays. Not imaginary Fears of voter retribution are not imaginary.

In the 1980s, Congress was forced to back away from several attempts to reduce cost pressures on Social Security and Medicare, including efforts to raise retirement increase fees and impose income tests on recipients. The experience of House Ways and Means Chairman Daniel Rostenkow-ski, whose car was rocked by angry-Chicago constituents after he proposed restrictions in Medicare in has been instructive to politicians of both parties. The final tally shows Clinton promising that the deficit would be halved by the time he finishes a first term. Bush has not set a specific target but his 1992 budget message forecast a $100 billion deficit in 1996. Perot says he could save three-quarters of a trillion dollars and balance the budget within five years.

It is hard to find praise for projected results from Bush and Clinton's approach to budget balancing. "Bush and Clinton are both offering non-solutions if you are looking for deficit reduction," said Robert Reis-chauer, director of the Congressional Budget Office. -if stuck in a pine tree and two other cars upended, sandwiched together against an outer wall of a house. Larry Schweitzer's water heater was imbedded in the back wall of his garage 4 feet above the ground. The rest of the garage was missing.

"This street reminds me of Miami, big time," said Schweitzer, a utility worker who recently returned from the area devastated by Hurricane Andrew. "There's so much devastation. House after house. The only difference is that in Miami, it was more widespread." Some homes were left a pile of splinters and roofs were torn down to the plywood. Three shelters opened and about 30 people were bused in from damaged neighborhoods.

"Everything that was in our living room is in our kitchen and everything in our kitchen is in our garage," said Kathy Hyatt, who came to a shelter with her husband and two children. "I can't believe we're all OK." 1 By Dan Piller Fort Worth Star-Telegram ANALYSIS The budget deficit issue in the 1992 presidential campaign can be summed up with the memory of the man in the car oil-filter commercial: "You can pay me now or pay me later." President Bush and Arkansas Gov. Bill Clinton say they want to pay up on the deficit, all right, but later. Dallas billionaire Ross Perot wants to pay now. Bush and Ginton argue that deficit reduction is important, to be sure, but to slash the $335 billion deficit immediately would turn an economic downturn into a full-bore depression.

But the notion of attacking the budget deficit has appeal Those who voted for the Reagan-Bush ticket in November 1980 would never have believed that the administrations headed by those two conservatives would increase the annual budget deficit from $78.9 billion in 1981 to $335 billion in the fiscal year just ended. And the latest deficit figure would have been about $60 billion larger had Congress provided money already authorized for the savings and loan bailout. $4 trillion this year Those annual deficits have been piled onto the national debt, which has risen from $2.6 trillion in 1989 to $4 trillion this year. Annual interest on the debt, which is paid to holders of government bonds, will amount to $199 billion this year. That is more than the federal government will spend for Medicare.

Politicians who urge drastic reductions in the deficit and the debt are prone to comparing the VS. government with a family household, overlooking the likelihood that a family with a home mortgage and a car loan or two is probably carrying a debt load larger than its annual income. Still, Americans' philosophical aversion to debt stems from sources as venerable and diverse as the Bible and Thomas Jefferson. Perot inspires collective guilt among American par FIRST YEAR ANNUAL RATE 4.63 MONTHS 1-6 MONTHS 7-12 IlfPOffllCI umummmmmmm 1 1 5.00 4.25 tornadoes strike 'Document proves WASHINGTON AP) A secret Israeli government document says Eeorge Bush was told explicitly in 3988 that dealing with radical factions in Iran's government was the only way to free U.S. hostages in Lebanon.

The still-classified document, disclosed Friday night on ABC's "Night-line" program, recounts that Israeli government aide Amiram Nir told Jhe then-vice president on July 29, 4986, that "with regard to the hostages there is no choice but to deal with the ET iiinn'e enorial ntfar nn ni lalitv fUUHl IU wiiwi icLEAR- VST. PETERSBURG I Gulf of jA. Tampa I BayXd ,10 miles A fij ga. UnZ Ocean FLORIDA r- Detail bl Gulf of areatLI Mexco 0 SLmt. I Miami 200 km 9 )MB A a at to If? aaa m-m m-m hp a aaa m.tm im ij LISA 0 0 0 iiiiiijilMiiiTiiiiffiilSi ii LARGO, Fla.

(AP) Tornadoes' brought a new round of destruction to Florida on Saturday, killing four people at mobile home parks and smashing dozens of houses into splinters in the Tampa Bay area. A two-day storm with winds gust-ing to 90 mph was blamed for sinking freighter. All 15 crew members were rescued after the 255-foot Hol-stein went down with 2,000 tons of flour late Friday in the Gulf of Mexico. The tornadoes killed three people a mobile home park in Pinellas Park and one in nearby Largo as they raged from midmoming to early afternoon, said Lee Lerchen of the Pinellas Park police. Pinellas Park Mayor Cecil Bradbury said 84 homes were destroyed and 100 to 200 homes were seriously damaged.

Pinellas County spokeswoman Ronnie Goldstein said 25 people were injured countywide. By early evening, Pinellas Park authorities said they had surveyed the worst-hit buildings and did not expect discover more deaths. In Pinellas Park the storm left someone else's front door jammed in the side of woman's house, a car Bush knowledge most extreme" elernentsVi Bush has faced renewed ing about his role in the Iran arms sales in recent weeks on the campaign trail He says he has with the, American people on Iran- Contra and has brushed aside specific The Israeli report is yet another piece of information suggesting Bush knew more about the arms-for-hos-tages affair than he has said. AVAwnar niuflS VOU savinQS to 9 Pair And A Spare Contacts Purchase any complete prescripfen eyeglasses at our regular low retail price, and well include a pair of Neof lex Thin daily-wear soft lenses! Dullrtg Optical fftarw flo( Ipdudadl Contachi to poMrs brand amwtM. MooVw oaarjurai or tipafV fun ppy.

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