How can anyone look the American people in the eye and say we have a surplus when we owe the Social Security trust fund $1 trillion? There is no account. There is no money. They have nothing but IOUs. But somebody else is going to get a tax break today. We owe the Medicare trust fund at this moment $228 billion. There is no lockbox. There is no bank account. They have an IOU. We owe our Nation's military retirees, the people who they are all going to go give speeches to next Monday and tell them how much we value them, we owe them $163 billion. There is no account. There is no bank account. They took the money and they are going to give it to somebody else. We owe our Nation's civil servants $501 billion. Now, how can anyone look me in the eye and say we have a surplus when we owe those folks that money? My colleagues have taken money out of their paychecks with the promise that my colleagues were going to set it aside for their retirement. It is not there. This is wrong for America. We have a unique opportunity to start paying down the debt; and, instead, my colleagues are giving their big contributors a tax break. Shame on you.
On the recordMay 25, 2001
Source
govinfo.govEditor's note · Context
Addressing the issue of national debt and budget surpluses.
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