Doris Matsui: “I have to say that there was a lot of misleading information passed on by the House of Representatives last week when we…”

“I have to say that there was a lot of misleading information passed on by the House of Representatives last week when we discussed this bill. There has been a lot of talk about a lockbox and $3 trillion. The fact that $2 trillion will be put in a lockbox, that in fact is Social Security money. That is payroll tax money coming in over the next decade, 15 years, the $2 trillion. The problem is that will not preserve Social Security. The gentleman from Oklahoma (Mr. Watts) said last week that that will save Social Security. That will not save Social Security. By putting the $2 trillion in a lockbox, all that does is make sure that Social Security problem does not get any worse, that it does not get any worse. That is what the issue is. But it will not solve that problem. In fact, what will be needed, if we do not want to cut benefits, is general fund money going into the Social Security system.”