Word: moynihan
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...most irresponsible idea of the 1990s," said Budget Director Richard Darman. "A charade!" harrumphed President George Bush. "Outrageous!" cried dozens of editorialists and labor groups. The object of that opprobrium was Senator Daniel Patrick Moynihan's plan to reduce the Social Security tax. First proposed by the New York Democrat in December 1989, the bill was killed last October before it even reached the Senate floor. Today, however, the Social Security Tax Cut Act of 1991, an updated version of Moynihan's idea, is becoming one of the country's most hotly debated domestic policy issues...
With his plan, Moynihan seeks to curtail the government's spending of the surplus that resulted from a 1983 congressional overhaul of the Social Security system. Congress had called for accelerated tax rates to build up reserves for baby boomers, many of whom will begin to retire early next century. The reserves will result in an estimated surplus of $74 billion this year, $83 billion next year and $225 billion by the year 2000. Charging the government with "extortion," Moynihan claims that this "trust fund" is being improperly counted as general revenue when the federal budget is written each year...
...Daniel Patrick Moynihan (D--N.Y.) is the lead sponsor of a bill to remove the provision, and it could be passed this year, Nixon says...
...have to do what you're told. It's something you have to do," adds Vietnam veteran Frank Moynihan, who says he believes the real motive behind Operation Desert Storm is to "free...
...Vietnam, no one knew each other. Today, everyone went over as a unit. The whole unit trained together, flew together, fought together, and will come back together," Moynihan says...