BUDGET: A Moderate Policy For an Election Year

Just about the last thing to be expected in an election year is that Congressmen will pass up a chance to play party politics with a key campaign issue. But that is what happened last week when the Democrat-dominated House and Senate Budget Committees met to set targets for Government spending, revenues and deficit for the fiscal year that begins Oct. 1. They could easily have voted for huge expenditures that would heat up the economy while contributing an important advantage to the Democratic platform. Instead, they resolved on a moderate line...