On the recordNovember 17, 2011
The gentlelady from Washington, I listened to her very carefully, and she has promulgated one of the greatest misunderstandings in this debate, namely, that the Social Security and Highway Trust Fund are not jeopardized by House Joint Resolution 2 because section 7 excludes repayment of debt principle from the definition of total outlays. Now, according to the Center on Budget and Policy Priorities, the balanced budget amendment could result in Medicare being cut by about $750 billion, Social Security almost $1.2 trillion, and the veterans' benefits $85 billion through 2021 if cuts were spread proportionately. So I hope that there will be fewer and fewer of my colleagues trying to assure us that this bill does not jeopardize those programs. This is from the Center on Budget and Policy Priorities. I yield 3 minutes to the distinguished member of the committee, the gentlelady from Texas, Sheila Jackson Lee.
