NAN A. S. HAYWORTH: “Mr. Speaker, to expound upon the comment just made by the distinguished chairman of the committee, we must rise in…”

“Mr. Speaker, to expound upon the comment just made by the distinguished chairman of the committee, we must rise in strong opposition to the Rangel substitute precisely because of its method of devising a so-called lockbox, because it does nothing to serve as stewards or protectors of Social Security. Oh, no, it gives the consideration to the central bankers. The Federal Reserve Bank of New York City. New York City? Why on earth would we devise this legislative sleight of hand? We understand the desperation of those on the left. Not only intent on bankrupting the Nation fiscally, they are bankrupt and bereft of ideas. So this extension of the politics of fear is made manifest in the Rangel substitute. You see, Mr. Speaker, the left so mistrusts the American people with their own money that they will devise any scheme to put the government in the way of hard working people and their money.”