JUST as November’s deadline approaches and tough budget proposals must be enacted, look for hundreds of billions of dollars to be suddenly available to make the job easier. Call it Moynihan ex machina.
New York’s Senator Daniel Patrick Moynihan sits on the Finance Committee, where he recently called his colleagues’ attention to a means by which the deficit could be reduced by $634 billion over the next 10 years. Moynihan’s Republican colleagues listened longingly (Senator Dole appeared to be particularly wistful), then swallowed hard and voted instead to reduce spending on Medicare and Medicaid by $450 billion. But they will have plenty of time to rethink their position before the bills emerge from conference, and Senator Moynihan will do his best to persuade them.
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