Pete Domenici: “this is not an issue of what kind of economic game plan we have had for the last 5 or 6 years. We all understand that…”

“this is not an issue of what kind of economic game plan we have had for the last 5 or 6 years. We all understand that hard-working Americans are making this economy hum. Investors who have become more enlightened and entrepreneurs who are taking more risks have caused a great American recovery, sustained in a manner we have never expected. The issue is, when we collect more taxes, and we exceed expectations--in fact, not just by a few hundred million, but actually approaching $1 trillion--should we wait for the Government to spend it or should we give some of it back to the American taxpayer? Actually, the Social Security trust fund can be saved. Medicare with prescription drugs can be reformed and fixed so we have prescription drugs, and there is still a large amount of money left over. What should we do with it? Invent some way to set it aside? If we do that, it will be spent. Let's give some of it back to the American people. That is why the lockbox is important. It says what is left over does not belong to Social Security; it belongs to the American people. Use it prudently, Congress, and give back some of it. It appears there is a war with that side of the aisle against giving anything back to the American people from these kinds of surpluses. I believe we will win that war. We relish it. We are ready to go. That will be the issue the next couple of months. I yield the floor.”