Byron Dorgan: “Let me explain it to you. In the year 2002--the Senator from Wyoming, I, and others voted to decide that we wanted to…”

“Let me explain it to you. In the year 2002--the Senator from Wyoming, I, and others voted to decide that we wanted to collect more money than is necessary in the year 2002 for the funding of the Social Security program--not a little more; a lot more; $103 billion more than is necessary to fund that program. We said we want to do that because we want to be responsible in order to save it for the future. It is invested in Treasury bonds. The Senator is correct. If he wants to have a debate about that, he cannot debate that with me because I do not contest that. It is invested in Treasury bonds. But the $103 billion ought to represent in 2002 $103 billion of revenue above a balanced budget. And it does not, because the Senator from Wyoming and his friends support a budget scheme that says we will show up about $108 billion short in the year 2002, and we will use the Social Security trust funds to make up the difference. If that were in the private sector, they would call it looting.”