this is a balanced budget amendment that Senators Reid, Ford, and Feinstein have offered. It treats the Federal Government like the family is treated in America, like the State governments are treated, where they balance their budgets. It is also very important because it excludes Social Security. As Mr. Ball said about this amendment, the Simon amendment, ``I believe large cuts are the most likely outcome, and I think that would be terrible. After more than 55 years of experience, we have developed an approach to retirement income that is working well.'' I think it is wrong that those who support the Simon amendment do not cross over and support the Reid amendment, the only one that has the opportunity to pass. This is not horseshoes. Coming close is not the answer. We need to do what is right for this country. You cannot leave this Chamber tonight and say, ``Well, I voted for a balanced budget amendment; it is somebody else's fault.'' The only fault lies with those who refuse to support the Reid amendment, the only one that has the opportunity of passing these Chambers.
Editor's note · Context
Senator Reid discusses the importance of a balanced budget amendment and its implications for Social Security.
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