    [Public Papers of the Presidents of the United States: William J. Clinton (1993, Book I)]
    [May 20, 1993]
    [Page 708]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Exchange With Reporters on the Economic Program
    May 20, 1993

        Q. Mr. President, can you talk to us?
        Q. Can you accept Senator Boren's entitlement cuts?
        Q. What's your reaction to Senator Boren's compromise with Danforth?
        The President. Well, my first reaction was that it was a huge shift
    in lowering taxes on people with incomes above $100,000 and hurting
    people, both elderly people and working people just barely above the
    poverty line. It's basically a $40 billion shift away from wealthy
    Americans right onto people just above the poverty line, the elderly and
    the working poor. So I don't support that. I think that's a mistake.
        Q. Would you rule out that kind of compromise to get rid of the
    energy tax?
        The President. I think that that is not a good thing to do if you
    read the details of it. Obviously, the main purpose of some of them is
    to do away with the Btu tax, but the mechanics shift over $40 billion
    away from people with incomes above $135,000 down to elderly and working
    people just barely above the poverty line. I don't think that's good.
    There is also another provision which, if it's implemented in the way
    they propose, would continue to shift health care costs onto private
    citizens and private employers, which would hurt the economy and hurt
    jobs. So those are the two things which concern me.
        Otherwise, I'm glad to have people talking and coming up with new
    ideas. But those are bad things.
        Q. [Inaudible]--have you essentially heard enough----
        The President. I can just tell you what--I've given you my answer.
    Look, we had 12 years where we made this economy more unequal and
    unfair. And to move $40 billion off of upper income people to people
    barely above the poverty line, it seems to me, is not a good way to go.

    Note: The exchange began at 12:50 p.m. on the South Lawn at the White
    House. A tape was not available for verification of the content of this
    exchange.