Let me ask the gentleman quickly, I know the gentleman from Wisconsin has been talking about taking Social Security off budget. What we mean by that is right now I think Social Security is running about a $62 billion, $63 billion surplus. When we get together and talk about balancing the budget, one of the ways we do it is say, we have $63 billion over in that trust fund. Why do we not do a little accounting trick and shift it over, and that will make our job $63 billion easier when they know they cannot get their hands on that anyway. Unfortunately, there is a conspiracy of silence on both sides of the aisle with Congress and the President, because it is in the President's best interest to try to balance the budget. He says he is going to balance the budget, and he has a balanced budget plan. It is $62 billion out of whack. If we add the $62 billion surplus in Social Security that he is counting on to cook the books, it is $120 billion in red. The same thing with the Republicans. If we have the courage, and I pray that we still do, if we have the courage to come forward with a plan to balance the budget, and yet if we shift $62 billion over from a Social Security trust fund in an accounting trick that we cannot use, then we are $62 billion short.
Joe Scarborough: “Let me ask the gentleman quickly, I know the gentleman from Wisconsin has been talking about taking Social Security off…”
Editor's note · Context
Discussing the implications of using Social Security surplus for budget balancing.
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