Political Quotes

“if it passes it will require the Federal Government to balance the budget and Social Security moneys after that will have to come from four places. No. 1, raise the payroll taxes in order to cover the difference; No. 2, cut benefits to beneficiaries; No. 3, cut Government expenditures and other needed programs to pay its debt to Social Security; and No. 4, because of the language in the constitutional amendment, to get a three-fifths majority of each House to constitutionally raise the debt. That is a pretty rough row to hoe. Also, it is quite clear that because there is no vote required to borrow from the Social Security trust funds that there is a powerful incentive to borrow from those funds to pay for general programs. So I believe we should pass a balanced budget, which is not a gimmick. It isn't going to make it easy. I acknowledge that. If my amendment passes, it is going to be extremely difficult to balance the budget. But when we do, it will be a fair way to balance the budget. We will not be using the surpluses out of Social Security to balance that budget.”