the deficit is worse, and the gentleman makes an excellent point. When the surplus, and Social Security is running a surplus next year and this of $150 billion to $160 billion, that amount is actually offset against the gross deficit in the regular budget of the United States. So if you remove that offset, the surplus in Social Security, which is netted out against the deficit, that number becomes $687 billion instead of $427 billion.
Discussing the impact of Social Security surpluses on the federal deficit.
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I want to thank Congresswoman Gwen Moore for suggesting this hearing and for her role in bringing it about and putting it together.
Can we conclude from what you have just said and from what you are seeing that the favorable factors in our economy today may be glimmers of hope, may be harbingers of an economy that is recovering?
shouldn't we stop creating new programs, now agencies, new commissions and new discretionary spending?
We are the Budget Committee, not the Energy Committee, and it is not our job to draft energy bills.
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