John Spratt: “If the $521 billion were not reduced or diminished by the offset of…”

On the recordMarch 23, 2004

If the $521 billion were not reduced or diminished by the offset of the Social Security surplus, which is about $160 billion, it would instead be $681 billion, instead of $521 billion. In truth, he was here when we voted to do it. We have taken Social Security off budget. We acknowledge that the moneys in that trust fund are being accumulated today to be spent in the very near future, and they should not be consolidated with and diminish other accounts. You should look at the budget bottom line without offsetting the Social Security surplus gains.

Said by

John Spratt

South Carolina

Source

govinfo.gov

Editor's note · Context

Discussing the impact of the Social Security surplus on the federal budget.

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John Spratt: “If the $521 billion were not reduced or diminished by the offset of the Social Security surplus, which is about $160…”

Editor's note · Context