Political Quotes

“Frankly, under the Reid amendment, capital budgets would not have anything to do with deficits, but they would have a lot to do with increasing the debt. If you spent $100 billion worth of capital investments in a budget, which would not count, and you balanced the rest of the budget, you would still be $100 billion in the red and you would have to borrow to pay for these capital investments, whether you called it a capital budget that you were borrowing for, freeways and highways of America that you wanted to borrow money for, or the Brooklyn Bridge that you wanted to buy, and had to pay for. While the proponents of this amendment claim that this will protect Social Security, the Reid amendment does no such thing. It takes Social Security off budget. Is that security for the Social Security budget? I understand some of the groups that support seniors are all on board the Reid amendment. It does not protect retirees' benefits one iota because there is no protection against changing the beneficiaries.”