As the 105th Congress convenes this week, it has much in the way of campaign promises to live up to. But, before the inevitable wrangling over myriad forms of possible legislation, the nation's lawmakers should concentrate on two issues that demand immediate attention: campaign finance reform and a balanced budget.

Nearly everyone wants something done about those two issues - except, it seems, the Congress and President Clinton. The executive and legislative branches have been much more intent on decrying their political opponents' shortcomings than on how to actually accomplish substantial reform.The Republican majority in the 104th Congress made lists of objectives it wanted to meet, most of them under the umberella of the so-called "Contract With America." Some of its successes were notable - welfare reform, granting the president a line-item veto - but the most difficult tasks remain.

If the 105th can stop or make beneficiaries accountable for the flow of soft-money donations to political parties and at least take major steps toward balancing the national budget with restrictions on taxing and reform of Social Security and Medicare, it would be hailed as one of the most productive Congresses in history.

The president and congressional leaders of both parties have promised to work together to move these issues beyond the rhetorical stage. They have a unique opportunity this year to do just that. Voters want it, circumstances make it possible and the inevitability of disaster if it doesn't happen all make this the time for action.

Soft-money donations are made up of money that cannot go directly to a candidate or a campaign but are funneled through the political party organizations.

Both parties broke their soft-money records this campaign year, collecting $223 million between Jan. 1, 1995, and Oct. 15, 1996, the last reporting period. The Republicans took in $121 million; the Democrats $102 million.

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Democrats, on the defensive because of questionable money-raising activities by the Democratic National Committee that benefited President Clinton, including apparent solicitation from prohibited foreign sources, are calling for Republican leaders to join in a push to address campaign finance reform.

It's about time Democrats and Republicans admitted to their own faults and stopped pointing to the other side's problems. Both parties have ignored or bent campaign finance rules, and more restrictions are needed.

The 105th Congress also has its back to the wall on the issue of balancing the federal budget. Previous congresses and administrations may have created the situation, but it is up to lawmakers this year to end overspending, fix the Social Security system and trim or stop the growth rates of Medicare and Medicaid.

These two issues present a tall order and one that will require unequaled statesmanship, but that is what good leadership is about. The nation is waiting eagerly to see if the new Congress is equal to the task.

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