Byron Dorgan: “This would provide a guarantee that the revenue stream for Social Security is available only for Social Security; that…”

“This would provide a guarantee that the revenue stream for Social Security is available only for Social Security; that is, the tax money that is available for it goes only into the Social Security trust fund and can be used only for that purpose. But it would do two other things as well. It would say, let us use some additional resources not just for a $1 trillion tax cut but also to extend the life of Social Security and the life of Medicare. Doing both of these things, I think, will give the American people the reassurance that both of these programs, which have been so important in the lives of so many Americans in this country, will be available for many years to come. I do not think, as I said when I started, there will be a debate here on whether we should proceed. Let's proceed. I expect the motion to proceed will carry, perhaps unanimously. We will have a debate on the lockbox issue. But my point is, let us not debate that in isolation. Let us debate it with the eye on this ball: That we need to extend the life of Social Security and extend the life of Medicare, even as we do what we should have done long ago; and that is, make certain that no Social Security revenues are used for any purpose other than the solvency of the Social Security system itself. That is what workers expect. That is the basis on which money is taken from their paychecks and put into a dedicated tax fund.”