John W. Peterson said "I think we really have 3 years to back out of the trust funds. If we do not stop borrowing from the trust funds the next 3 years, we probably will not have an economy that will allow us to do that. I think we have a limited time to stop borrowing from them. I think the pressure ought to be on. I do not think we have to whack and cut with a cleaver. I think we just have to be a little bit frugal like we are with our own money, just a little bit frugal here in Washington. We can stop borrowing from the trust funds, and we can make sure Social Security and Medicare are strong and that our children do not have the debt that we are going to leave them if we do not do it." @ PoliticalQuotes.com

On the recordMarch 4, 1998

I think we really have 3 years to back out of the trust funds. If we do not stop borrowing from the trust funds the next 3 years, we probably will not have an economy that will allow us to do that. I think we have a limited time to stop borrowing from them. I think the pressure ought to be on. I do not think we have to whack and cut with a cleaver. I think we just have to be a little bit frugal like we are with our own money, just a little bit frugal here in Washington. We can stop borrowing from the trust funds, and we can make sure Social Security and Medicare are strong and that our children do not have the debt that we are going to leave them if we do not do it.

Said by

John W. Peterson

Pennsylvania

Source

govinfo.gov

Editor's note · Context

Discussing the need to stop borrowing from trust funds to protect Social Security and Medicare.

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