Political Quotes

On the recordFebruary 24, 1997
I think he would have trouble getting a job anyplace else with the logic he uses in that. As far as I am concerned, he is perpetuating the myth that Social Security proceeds will and should be used to balance the budget. I think that is wrong. Remember, the commission that just reported to us in the last few months said that some of those trust fund moneys should be invested in private securities. We cannot do that if all the money goes to balancing the budget, as will happen with the underlying amendment. My friend from Utah said all through this debate that Social Security is the only way, using the excesses, the surplus from Social Security, that you can balance the budget. That does not make it right. That is wrong. If you told a future Social Security recipient the money you are paying in and your employer is paying in is going to be used to balance the budget, it is going to pay for foreign aid and other type things, I don't think they would be too happy. We need a firewall around those funds to make sure the reserves are there to pay Social Security benefits in the next century.
Said by
Harry Reid
Democratic · Nevada

Editor's note · Context

Discussing the use of Social Security funds in budget balancing during a Senate debate.

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