Mark Neumann: “The Social Security Preservation Act would require the Social Security dollars coming in this year be put into the…”

“The Social Security Preservation Act would require the Social Security dollars coming in this year be put into the Social Security Trust Fund. The National Debt Repayment Act, as it relates to Social Security, would look at the dollars that have been taken out of the Social Security Trust Fund over the past 15 years, and as we repay the Federal debt, it would also repay the dollars that have been taken out of the Social Security Trust Fund. So there are two separate pieces of legislation here. They are both needed. The Social Security Preservation deals with this year's Social Security money. The National Debt Repayment Act pays off the entire debt so that we can pass this Nation on to our children debt free. In doing so, it puts the money back in Social Security that has been taken out over the last 15 years, and like you mentioned in the National Debt Repayment Act, we take two-thirds of the surplus and dedicate it to debt repayment, including Social Security as a priority. The other one-third is returned to the taxpayers.”