Jon Kyl: “I cannot think of a greater threat to Social Security. Consider for a moment what it would mean to exempt Social…”

“I cannot think of a greater threat to Social Security. Consider for a moment what it would mean to exempt Social Security from the balanced budget amendment. In effect, Social Security would become the only Federal program--the only program--where deficits would be permitted. The rest of the Federal budget would be required to be in balance. How on earth does allowing Social Security to be in deficit protect our seniors? Quite the opposite. If a balanced budget is good for other programs, why is it not good for Social Security? There is no greater protection for seniors than having the money to take care of our obligations. In fact, we have been able to provide for seniors precisely because Social Security has usually been in balance or surplus; it is the rest of the budget that has been plagued by big, chronic deficits. Now, at the very time it appears we are near consensus about how detrimental deficits are, some are proposing that we allow deficits to begin to infect the retirement program.”