Bill Clinton: “Well, I think that plainly that's what the Fed is trying to do. And I've made a real practice of trying not to comment…”

“Well, I think that plainly that's what the Fed is trying to do. And I've made a real practice of trying not to comment on interest rate changes and trying to let Chairman Greenspan and the Fed do their work, and I would do mine. But again I say, look at what we've done here. I think if you just look at Chairman Greenspan's own testimony, we've all been somewhat surprised that we could grow as much as we have, have unemployment as low as we've had, and have virtually no inflation. And it's a tribute to the productivity of the American businesspeople and the explosion of technology, and it's rifling through every sector of the economy and giving us more high productivity-driven growth without inflation than anyone dreamed. The trick is if--to go back to what Barney Frank said--what he wants is to keep the economy going, to keep the growth going until middle and lower middle income working people can get their wages up to overcome the stagnation of the 20 previous years and until we can get more people caught up in the areas where the recovery hasn't occurred. That's why, it seems to me, the most important thing to do is to have initiatives like this which give you concrete examples of how you can have growth without inflation. Tax Cuts Mr. Insana. Now, Republicans would argue that one other way to extend the recovery here would be to cut taxes even further. And you hinted last week in USA Today that, if you got what you wanted on Medicare reform and prescription drug benefit subsidies, that you might go along with an expanded list of tax breaks. Can you elaborate on that? What would you accept in exchange for a Medicare deal?”