Political Quotes

Nick Smith: “Since 1986, when we started bringing in the greater surpluses from Social Security and some of the other trust funds…”

On the recordJune 4, 1996
Since 1986, when we started bringing in the greater surpluses from Social Security and some of the other trust funds, such as the Federal retirement trust fund, a law was passed back in the 1980's that says any surplus money automatically goes to the Treasury for borrowing. I think that is wrong. It is an incorrect way to be fiscally responsible for the future of Social Security and the other trust funds.
Said by
Nick Smith
Republican · Michigan

Editor's note · Context

Discussing the handling of Social Security surpluses and fiscal responsibility.

Share

More from Nick Smith

Jul 7, 2004

Reclaiming my time, although I support the intention of the chairman of the Committee on Small Business, my concern would be where the money comes from. So, in the MEP program, it is already sacrificing, and this also takes funds out of…

govinfo.gov
Apr 21, 2004

How do we change? How do we develop the kind of discipline, intestinal fortitude to start slowing down this huge growth of government to the extent that we have decided we will simply borrow more and more money to take home to our…

govinfo.gov
Apr 21, 2004

And, Mr. Speaker, of course the lobbyists that come in, they would prefer that it be mandatory spending; so some of these programs, if they can write it in law that if they meet certain qualifications, they automatically get it and it does…

govinfo.gov
Jun 24, 2004

I wore my Adam Smith tie this morning because today we are going to talk about some ways that might help us give discipline to ourselves on how much money we spend and how much overpromising we do. Two areas. One, I am from a farm in…

govinfo.gov

Other voices in this conversation