John Shaw: “let me explain that for a moment. Because that sounds impossible, but it is. What happens when that money is taken away…”

“let me explain that for a moment. Because that sounds impossible, but it is. What happens when that money is taken away from the seniors in the form of an earnings penalty, it is given back to them very slowly after their 70th birthday, so that their benefits actually increase a little bit in order for them to get some of that money back. And if they live long enough, they get it all back. But the problem with that is that the Government is using their money which they earned, which they are entitled to at the retirement age, which the Congress said is 65 and that is what they are entitled to. So it is wrong, even though they get it back over a long period of time. In the long run, it does not cost anything. In the short run, it does cost something and it is going to cost something. The money is there now. We have walled it off to save Social Security. We have walled it off in the lockbox, which I think most of the Members support. And it certainly passed the House of Representatives with good support from the Democrats as well, but a Republican idea in which we walled it off. We do not spend the Social Security surplus on governmental expense. It is wrong, wrong, wrong.”