Mark Neumann: “Let me jump from there into Social Security. You mention their paychecks. At the end of each week, people do get a…”

“Let me jump from there into Social Security. You mention their paychecks. At the end of each week, people do get a paycheck. Part of that money goes into Social Security. I would like to just talk through what is happening in Social Security so we understand how this relates to that overall picture we start talking about, which is surpluses and a balanced budget. Social Security this year is going to collect $480 billion out of the paychecks of workers all across America. It is paying back out to senior citizens and benefits $382 billion. If you think about this for a minute and think about your own checkbook, forget about the billions for just a minute, if you have got 480 bucks in your own checkbook, and you write out a check for 382 bucks, your checkbook is fine. If you have $480, and you write out a $382 check, as a matter of fact, you have got $98 billion left over. That is exactly what is happening in Social Security right now. It is collecting $480 billion. It is paying $382 billion back out to seniors in benefits, and that in fact leaves a Social Security surplus of $98 billion.”