Rod Grams: “I rise to strongly support Senator Allard's amendment, which would protect Social Security and eliminate the federal…”

“I rise to strongly support Senator Allard's amendment, which would protect Social Security and eliminate the federal debt held by the public. I believe this is a fiscally responsible amendment and it will help us to maintain fiscal discipline in an era of budget surplus. If enacted, this amendment would stop Washington's spending spree and eliminate the entire $3.6 trillion debt owed to the public, save over $3 trillion in interest, and protect the Social Security program from annual discretionary appropriations raids. Mr. President, thanks to our strong economy, we will have a $1.9 trillion non-Social Security surplus and a $2.3 trillion Social Security surplus over the next 10 years. Yet there are many proposals to spend this surplus. If we spend it, rather than save it, we will confirm the public's worst fears about the irresponsibility of their elected leaders. This budget surplus didn't just fall from the sky. It is working Americans who generated the surplus--not Congress, not the President, but Americans' hard work. And it should be returned to taxpayers in the form of debt reduction, tax relief, and Social Security reform. If we don't lock in the budget surplus and return it to the taxpayers in these ways, Washington will spend it all. Last year's appropriations spending has proven that my fears are well founded.”