Barbara Mikulski: “I rise to support Senator Hollings' amendment. This amendment puts the Senate on record in support of Saving Social…”

“I rise to support Senator Hollings' amendment. This amendment puts the Senate on record in support of Saving Social Security first. It says before we do anything with the budget surplus, whether that is cutting taxes or funding worthwhile programs, we must ensure the solvency of Social Security. This is a very important vote. It expresses our commitment to the Social Security system for the millions of Americans who currently rely on Social Security. It also sends a powerful message to the millions of Americans who have come to doubt that Social Security will be there for them when they retire. I support this amendment because I believe that promises made must be promises kept. We must be thoughtful and cautious when addressing the needs of a system that so many Americans count on, especially elderly women and disabled children. We need to ensure that we have the resources necessary to put Social Security on a sound footing, for both the short-term and the long-term. Now we are in the midst of a historic event: the first federal budget surplus in decades. We've gone from a record deficit of $290 billion in the last year of the Bush Administration to a projected surplus of $80 billion for fiscal year 1998. There is no end to the proposals on how to use this 'extra' money. I believe that we should follow President Clinton's lead and not commit the surplus to any program until we first resolve the long-term solvency of the Social Security system.”