Alan Simpson: “I just hope that perhaps somewhere into the national debate will come pages 78 and 79 of this year's 1996 annual report…”

“I just hope that perhaps somewhere into the national debate will come pages 78 and 79 of this year's 1996 annual report, which is so clear that there is no Social Security trust fund. There is nothing in the way of a pool other than the IOU's. These are IOU's, and the entire cash, when we sell them, goes to the general fund. Is that what the Senator means when he describes ``looting or raiding?'' Please tell me, because these are two terms that have been used by the Senator from North Dakota day after day after day, that we are ``looting and raiding.'' I want to know what the Senator means when he says ``looting or raiding.'' Does ``looting or raiding'' mean that we should not be putting it into T bills? Does ``looting or raiding'' mean that we should not see the money go into the general fund, as is the law of the United States? What is, for this Senator ``looting or raiding''?”