NAN A. S. HAYWORTH: “I rise here in support of the Social Security system and concerns about its looming revenue shortfalls. We heard from…”

“I rise here in support of the Social Security system and concerns about its looming revenue shortfalls. We heard from the esteemed chairman that this would only cost $500 million over 5 years. Now, the GAO says that that is not at all an accurate estimate. In fact, they said, the actions the Bush administration "took to assess the integrity and compatibility of Mexico's Social Security system were limited and neither transparent nor well-documented. The administration provided no information showing it assessed the reliability of Mexican earnings data and the internal controls used to ensure the integrity of information that the Social Security Administration will rely on to pay Social Security benefits." In other words, the agreement could be setting the stage for massive fraud. Mr. Chairman, $500 million is a lot of money around here. We have pitched battles over tens of thousands, hundreds of thousands, a few million, and to just dismiss this and say, well, $500 million.”