Harry Reid: “The issue on the balanced budget amendment is quite narrow. The issue is whether or not we should balance the budget…”

“The issue on the balanced budget amendment is quite narrow. The issue is whether or not we should balance the budget using the Social Security surplus. I say no. I say if we are going to balance the budget, we should do it the right way, the hard way, the honest way, and not include in the calculations to arrive at a balanced budget the Social Security surpluses. Even though I think when statements are made... that my State balances its budget, the fact is they really do not. The fact is that States have their capital expenditures off budget, through their bonding process. The State of Nevada does this, as do the vast majority of the other States. That is how they balance their budget. They simply exclude the costs of building construction and other long-term capital expenditures.”