Reid opposes McCaskill-Corker bill capping spending

Senate Majority Leader Harry Reid (D-Nev.) voiced strong opposition to a bipartisan bill capping federal spending. 

Reid said he would be "happy" to stand in the way of the legislation, which was introduced Tuesday by Sens. Claire McCaskill (D-Mo.) and Bob Corker (R-Tenn). The bill would count Social Security as part of the federal budget for the first time and subject it to automatic cuts if overall spending is not brought down to 20.6 percent of gross domestic product. 

“I have said many times that I will do anything I can, including throwing my legislative body in front of any efforts to weaken Social Security,” Reid said when asked about the McCaskill bill at a press conference. 

“Social Security has not contributed one penny to the debt. They should leave Social Security alone,” he said. 

Reid said that he is “happy” to be standing in the way of bipartisan attempts to reform Social Security as part of a deficit reduction package.

“If I am standing in their way, good!” he told reporters. 

On the other hand, Reid said that he is moving forward to facilitate a long-term deficit solution, minus reductions in Social Security benefits. 

He said that last week he met with Senate Budget Committee Chairman Kent Conrad (D-N.D.) to discuss a way forward. Conrad has proposed that his committee take the lead in forming a budget plan that goes beyond the traditional five-year resolution his committee is charged with producing. He wants such a plan before the nation's debt ceiling is reached this spring, forcing a showdown between the White House and congressional Republicans. 

Conrad has called for a fiscal summit with leaders from both parties and the White House but has not gotten support for the idea. 

Reid said his staff is meeting with Conrad’s staff on these matters.