Nick Smith said "continuing the discussion on do we really have a surplus, yesterday the Congressional Budget Office estimated that this year we would have a surplus of $8 billion. However, this year we are borrowing about $90 billion from the Social Security trust fund, so we are hoodwinking the American people, pretending there is a surplus. We have come a long ways. We have cut down overspending by over $200 billion over the last 3 years, but it is not a surplus. We still have a long way to go, and it is important that we put Social Security first. In this survey, the voters profoundly dislike using Social Security surpluses to subsidize the remainder of the Federal Government. Ninety-three percent want Congress to balance the budget without using the Social Security deposits. Voters overwhelmingly reject 'raiding' of the Trust Fund." @ PoliticalQuotes.com

On the recordMarch 4, 1998

continuing the discussion on do we really have a surplus, yesterday the Congressional Budget Office estimated that this year we would have a surplus of $8 billion. However, this year we are borrowing about $90 billion from the Social Security trust fund, so we are hoodwinking the American people, pretending there is a surplus. We have come a long ways. We have cut down overspending by over $200 billion over the last 3 years, but it is not a surplus. We still have a long way to go, and it is important that we put Social Security first. In this survey, the voters profoundly dislike using Social Security surpluses to subsidize the remainder of the Federal Government. Ninety-three percent want Congress to balance the budget without using the Social Security deposits. Voters overwhelmingly reject 'raiding' of the Trust Fund.

Said by

Nick Smith

Republican · Michigan

Source

govinfo.gov

Editor's note · Context

Discussing the federal budget surplus and the use of Social Security funds during a floor speech.

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