Political Quotes

On the recordFebruary 23, 1994
Let me, if might, respond quickly to that question and then ask another question. The thing that is disturbing to me, as I reflect on Rev. Jim Bakker, Rev. Jim and Tammy Bakker--and I think everyone remembers the PTL Club show that was on. I can remember saying in one of our Budget Committee meetings during our deliberations, ``Does anybody remember why Jim Bakker is in a Federal prison?'' Nobody could remember the exact details, but fundamentally he is there because he promised to raise money for one reason and then used it for another purpose. That is precisely what we are doing to Social Security today--not in the future, today. We are telling people we put that payroll tax on in order to fund Social Security. And, indeed, we are funding part of Social Security that way. But we are also funding the operating expenditures of the rest of the Federal Government by running a Social Security surplus and taking the money and using it for another purpose. By those tests that were applied to Rev. Jim Bakker, all of us would be in a Federal penitentiary. I find it disturbing that for the foreseeable future Social Security is in surplus, and under the terms of the amendment we have before us, we would achieve a balance but only achieve a balance because we would be using the Social Security trust fund to make that balance.
Said by
Kent Conrad
Democratic · North Dakota

Editor's note · Context

The speaker discusses the misuse of Social Security funds in comparison to Jim Bakker's legal troubles.

Share

More from Kent Conrad

Oct 18, 2023

The one thing I know for sure is that what is happening now is not working.

congress.gov
Apr 4, 2017

Millions of Americans are financially unprepared for their retirement.

congress.gov
Sep 6, 2016

We all know that Social Security is going to have to be dealt with, or we are going to face by 2034 at the latest--many of us believe it will be earlier than that---an across-the-board 23-percent cut.

congress.gov
Apr 4, 2017

What is realistic is to deal with these changes in a way that does expand access, that does expand the opportunity for people to participate in a retirement plan at work.

congress.gov

Other voices in this conversation