Today marks an historic point for the Senate. Not only did the Federal Government last year experience a balanced Federal budget without the use of the Social Security surplus for the first time since 1960, but we are now considering a budget resolution that will ensure we have a balanced Federal budget without the use of the Social Security surplus for three consecutive years--the first time this has happened since 1947 to 1949--and that takes us one step further on the path to actually eliminating our Nation's publicly-held debt by the year 2013. Needless to say, such a change in the way the Government does business is not only a significant step for the Senate and the Congress, but a welcome relief to a generation of Americans who have become all too accustomed to the terms 'deficit' and 'debt.'
Editor's note · Context
Discussing the significance of a balanced federal budget during Senate floor debate.
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