Bill Clinton: “Well, you can do some of it. For example, in the last 4 years when we had to really do a lot of the hardest work on the…”

“Well, you can do some of it. For example, in the last 4 years when we had to really do a lot of the hardest work on the deficit reduction, we were able to--because growth took care of part of our deficit problem, we were able to cut spending overall but still increase spending in education and in science and technology, primarily, and then deal with the problems of health care costs. I think if we can keep growth between 2\1/2\ and 3 percent, and if we can avert a huge increase in health care inflation--you know, there have been a lot of disturbing articles in the press in the last couple of days, well, health care inflation is coming back now. If we can avoid that--and we're going to try hard to do that--then I believe we'll have some money for the kinds of investments we need. I also would point out that in--we won't know until later this year, but in 1996 we saw that in 1995 inequality among working people began to go down for the first time in 20 years, for a number of reasons. Most of the new jobs are coming in high-wage areas, and the impact of the tax changes of '93 on workers with incomes of $30,000 a year or less was very positive. So I think we may be able to see declining inequality now for several years if we can continue with good new jobs and education. Mr. Hunt. In that context, the other day Chairman Greenspan of the Federal Reserve worried that wages may be rising so fast that it could threaten a renewed inflation, which would cause higher interest rates. Do you share that concern?”