Frank Lautenberg: “I rise to support walling off all Social Security surpluses and in strong opposition to the pending Social Security…”

“I rise to support walling off all Social Security surpluses and in strong opposition to the pending Social Security lockbox. I stand in opposition to the Social Security lockbox proposal that is in front of us because I believe this legislation is a lockbox in name only. In reality, instead of protecting Social Security benefits, I believe it would actually threaten them, and I think the threat is a serious one. It could cause a Government default and trigger worldwide economic instability. Before I review the problem with the Social Security lockbox, I will take a minute to talk about saving Social Security and my continuing hope that we can address this issue in the near future. I am fairly optimistic, Mr. President, but I have heard a lot of gloomy comments about the prospects for legislation to protect and preserve Social Security for the future. I hope we do not give up on this. I do not want to be critical in any way of any of my colleagues. I know many are concerned that this issue is just too hot to handle politically, but I do not see it that way. In fact, I think we have a unique opportunity this year to really prepare our country for the future, and it is an opportunity we should seize.”