Russ Feingold: “My amendment allows Congress to establish a surplus fund, a tool used in many States, in a far more responsible way to…”

“My amendment allows Congress to establish a surplus fund, a tool used in many States, in a far more responsible way to address emergencies than simply deficit spending or scrambling for offsets. My amendment allows Congress to build up and use the savings needed to fund the bulge in Social Security benefits that will occur when the baby boomers retire. Without this amendment, there would be a three-fifths vote required in each House in order to access the Social Security fund. This is terribly important to current and future retirees, and my amendment does not require Congress to do the right thing, but at least allows Congress to live up to its commitment to the Social Security beneficiary.”