Byron Dorgan: “Exactly. The year 2002 would be a year in which the Federal Government would have balanced its budget plus had a $103…”

“Exactly. The year 2002 would be a year in which the Federal Government would have balanced its budget plus had a $103 billion additional revenue above the balanced budget as an enforced pool of national savings to be saved for the time we are going to need it. That would comport with what the idea was in the early 1980's about creating a national pool of enforced savings. The scheme that we now have, I respectfully say to the Senator from Wyoming, means that we will never have a pool of enforced national savings to meet the Social Security needs. Instead, we will simply have a regressive payroll tax added to the general revenue stream to be used for whatever other purpose it is used for.”