On the recordFebruary 1, 1995
I do not want to see the Social Security trust fund compromised in any way. I believe everybody on this side will help her. But if her point of view becomes the law, then come the year 2028, 2029, 2030, we are going to be in a tremendous deficit, that is if we make it that far. In the interim time, of course, our debts are going to mount up, our interest rates will go off the charts, our economy is going to go bust and all those debt instruments that are supposed to pay this surplus to help people on Social Security are going to default, or else--we would never let them default--they would be paid by cheap dollars, by dollars that are worthless and people on Social Security will not be able to buy the food, clothing, the shelter that they need under those circumstances.
Source
govinfo.gov




