PANETTA

NO RETREAT, NO SURRENDER TO GOP: The Clinton administration today drew a line in the sand for all in the GOP to see -- warning that it won't abandon its economic prioritiesdespite the pounding the Democrats received in the midterm elections. In a speech to a business group,White House Chief of Staff Leon Panettasaid a balanced budget amendment -- a cornerstone of the GOP's "Contract for America" -- is "extremely dangerous" unless linked to specific spending cuts. "The worst thing we could do now is to retreat from the accomplishments that we've made so far," Panetta said. "If we start retreating, if we start moving backward, we will erode the strength of the recovery that we now have in place." Panetta said that when it comes to outlining specific budget cuts Republican supporters will "take cover" and then "they'll duck and run." The GOP has proposed nearly $200 billion worth of tax cuts; balancing the budget would also require $500 billion to $700 billion in spending reductions.Post your opinion on theWashingtonbulletin board.