The Person Who Posted The Video (Indy007q) Has Been Reached:

The YouTube poster who initially posted video with subtitles indicating Clinton advisor Mickey Kantor used a racial slur in 1992 has reposted it without the subtitles.

He tells me he enhanced, but didn't alter, the audio.

Another reader extracted and enhanced, again, the audio which you can listen to here.

To my ear, the slur seems like a plausible -- but hardly conclusive -- hearing, but one among many. It's far less clear without the subtitles -- a normal effect. In the context Pennebaker describes -- polling showing Bush weak in, of all places, Indiana, due to Perot's strength -- a reference to the "White House" seems to make more sense.

Ben Smith says Indy007q is an Obama supporter acting independent of the campaign. I've also listened to a isolated clip from the video in question. Smith and others are standing by the original quote but I just don't hear it anymore. Even the tweaked audio is inaudible...