Some are going to rotate in and out of bonds that have call provisions on them, yet are trading at a discount.

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With inflation raging in the late 1970s and early 1980s, Uncle Sam was issuing long-term debt with coupons as high as 15.75%--with no corporate-like call provisions.

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And we initiated the most aggressive -- what we call look-back provisions -- when it comes to regulations, where we say to every agency, go through all the regulations that you have on your books that flow through your agencies and see if some of them are still necessary.

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Clinton's call to significantly toughen the provisions on youth smoking and to preserve the Food and Drug Administration's jurisdiction over tobacco and nicotine was met with enthusiasm from many anti-smoking activists, but coolly in some offices in Congress.

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"They are within their rights to call that out and demand that the contract or provisions of it be renegotiated or eliminated, " Mr. Glassner said.

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