Ron Johnson

Do not trust a Federal trust fund. There are not dollars stashed away anywhere.

We had a President years ago that said, 'The buck stops here.' and we need to stop the buck.

The ability to tap human potential has changed dramatically since the program was first created in 1956.

We have to borrow the money from China to go to Taiwan and defend Taiwan against China.

I actually agree, we have a revenue problem and a spending problem.

We really do not know how to pay for them.

This is a national security issue.

We have a spending problem, not a taxing problem.

The President seems to believe that we need to deficit spend today and for the next ten years in order to, in his words, 'invest in initiatives to help the middle class.'

We need more taxpayers. And, that is going to happen by the capital investment that individuals make, not what the government spends.

So, let me focus in on Social Security, because you might be a little bit more familiar with those.

The entire deficit over the next 30 years is $127 trillion.

I do not personally think that is sustainable.

And, then, when the Trust Funds run out of the retirement benefits, right now, somewhere around 2033, what is the projection in terms of reduction--by law, the reduction in benefits when we run out of that Trust Fund?

Medicare will pay out $35 trillion more in benefits than it takes in the payroll tax over the next 30 years.

CBO has analyzed in great detail the long-term consequences of deficit spending.

The Trust Fund has no value to the Federal Government, dollar value, correct?

So, the Disability Trust Fund is going to run out, according to your current paper here, about 2017.

Over the next 30 years, Social Security will pay out $14.6 trillion more in benefits than it takes in the payroll tax.

If you are going to solve a problem, you have to properly define it.

Economic growth really does provide the revenue Senator Warner was talking about. We need to concentrate on that.

I appreciate the fact that you were very honest in your assessment of the value of that Trust Fund.

We want to save Social Security and Medicare. That is our goal. We want to save it and make it sustainable for future generations.

Title II classification will undoubtedly result in increased costs for broadband providers and end-users.

My interpretation of the testimony is that this is making the situation in the Middle East worse.