[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[S. Res. 282 Referral Instructions Senate (RIS)]







105th CONGRESS
  2d Session
S. RES. 282

 To express the sense of the Senate regarding Social Security and the 
                            budget surplus.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           September 24, 1998

  Mr. Johnson submitted the following resolution; which was referred 
 jointly pursuant to the order of August 4, 1977, to the Committees on 
  the Budget and Governmental Affairs, with instructions that if one 
committee reports, the other committee have thirty days to report or be 
                               discharged

_______________________________________________________________________

                               RESOLUTION


 
 To express the sense of the Senate regarding Social Security and the 
                            budget surplus.

Whereas the Congressional Budget Office projections released July 15, 1998, 
        indicate that the ``on-budget'' deficit, which does not include Social 
        Security program surpluses, will be $41,000,000,000 for Fiscal Year 
        1998;
Whereas the Congressional Budget Office projections also show that the amount of 
        Federal debt held by the Social Security trust funds will grow from 
        $736,000,000,000 in 1998 to $2,250,000,000,000 in 2008;
Whereas the Social Security trust funds will be credited with interest payments 
        on Federal debt each year, rising from $46,000,000,000 in 1998 to 
        $117,000,000,000 in 2008, and these interest payments are an integral 
        part of Social Security's long-term financial viability; and
Whereas the Congressional Budget Office's current projections indicate that 
        there will not be a consistent surplus in the unified budget until 2005: 
        Now, therefore, be it
    Resolved, That it is the sense of the Senate that Congress and the 
President should--
            (1) continue to work to balance the budget without counting 
        Social Security trust fund surpluses;
            (2) continue to abide by ``pay as you go'' budget rules 
        requiring that legislation increasing mandatory spending or 
        reducing revenues must contain offsets to maintain budget 
        neutrality; and
            (3) save Social Security first by reserving all surpluses 
        attributable to the Social Security program, including interest 
        payments.
                                 <all>