Political Quotes

Mark Neumann: “I think the other thing that needs to be kept in mind here, from 1969 to today, we have had other strong economies but…”

On the recordApril 21, 1998
I think the other thing that needs to be kept in mind here, from 1969 to today, we have had other strong economies but never got a balanced budget. Lord only knows, we have had more than enough tax increases between 1969 and today. That is how we have got the high tax rates we have got today. Neither the tax increases nor the strong economy, by themselves, have led us to a balanced budget. It has been the controlling of Washington spending coupled with that. We talked about some solutions here like welfare and getting us to a balanced budget. I want to drop back to Social Security for a minute because, long term, we still have this Social Security problem that, even if we get the money in the Social Security Trust Fund by passing the Social Security Preservation Act, in the year 2029, they still run out of money. The Social Security Preservation Act solves it from 2012 to 2029.
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Mark Neumann
Wisconsin
Source
govinfo.gov

Editor's note · Context

Discussing the need for a balanced budget and the challenges facing Social Security.

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