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Work on Deficit is far from Over
President Clinton dramtically emphasized last month what he hopes will be one of his great legacies: The decline and disappearance of the once-whopping federal budget deficit.

At one time, Clinton said, the deficit for 1998 had been projected to be $357 billion, and was heading up. It is now $10 billion, and heading down. America islooking at the first balanced budget in thirty years, he explained, and a deficit that contains elenven zeros "will be simply zero."

That would be a remarkable feat were it not for one thing. The reason for much of that deficit spending -- unchecked federal entitlement spending -- is still out there.

What happens when peace, or prosperity, or both, end for some unseen reason? Those budget deficits will return with a vengeance because the real work -- reforming entitlement programs and cutting federal spending has not been done by those in Washington.

The Joplin