God I love Lloyd Doggett!
He's not my congressman anymore, thanks to Tom DeLay, but he sure speaks for me:
From Ways & Means Committee Transcript, February 9, 2005
Doggett: Yes, thank you Mr. Chairman and thank you Secretary.
Mr. Secretary the figures that I have here suggest that over the next
decade Social Security will actually generate a surplus of about
$2.6 trillion, does that sound about right?
Snow: Yes, the system is
D: And do I understand that the budget that you're so proud of and
the Administration's proud of here this morning, proposes to
borrow every penny of that $2.6 trillion from the Social Security
Trust Fund and use it for non-Social Security purposes?
S: Well, the, the, obligations in Social Security, Congressman, as
I've said over and over, will be honored every penny
D: Yes sir, you're going to honor them, but you're going to borrow
from Social Security and use it for non-Social Security purposes,
correct? $2.6 trillion worth of borrowing?
S: That's right, and they'll be backed by the IOU's and obligations
of the United States government.
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