I think my dad would be rolling around in the grave right now if he knew that we were part of a 19-country alliance wherein we were picking up about 80 to 90 percent of the bill. Yet, that happens to be the case. So the question with this amendment is, if we choose to foot the bill on 80 to 90 percent of the goods, will we at least account for it honestly, rather than borrowing it from social security? So I think that is the simple choice that this amendment is all about. To put it in perspective, what we are talking about here is Thirteen billion. Experts have said we have a real problem coming with social security. If we do not do this, that problem gets worse. Thirteen billion dollars is enough money to pay for a full year's worth of social security benefits for 1.4 million retirees. Thirteen billion would pay for a full month's worth of benefits for nearly 20 million retirees. Thirteen billion is more than social security pays in an entire year for seniors' insurance, for benefits for kids under the age of 18. Thirteen billion would pay social security benefits for every African American retiree until September in a given year. Thirteen billion is over 10 percent of this illusory and quickly-diminishing social security surplus. Mr. Chairman, this amendment is just about truthful and straightforward accounting.
Marshall Sanford: “I think my dad would be rolling around in the grave right now if he knew that we were part of a 19-country alliance…”
Editor's note · Context
Discussing the financial implications of U.S. contributions to a 19-country alliance and social security funding.
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