[Congressional Record Volume 144, Number 124 (Thursday, September 17, 1998)]
[House]
[Page H7929]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                              {time}  1030
                           SUPPORT H.R. 4033

  (Mr. SMITH of Michigan asked and was given permission to address the 
House for 1 minute and to revise and extend his remarks.)
  Mr. SMITH of Michigan. Mr. Speaker, I would urge all my colleagues on 
both sides of the aisle to refrain from demagoguery of Social Security 
during this election year. For the last 40 years, this House has been 
spending every cent that comes into the Social Security Trust Fund for 
other social program spending. This year for a unique experience we 
will start paying down the public debt. That means lower interest rates 
to help keep the economy strong. A strong economy means it will be 
easier to keep Social Security solvent. In this election year and into 
next year, the challenge for all of us is to consider all solutions and 
not scare seniors or politically demagogue Social Security. Our goal in 
1999 must be to fix Social Security.
  Mr. Speaker, I would ask my colleagues to consider joining with me on 
my bill, H.R. 4033, that requires that Social Security Trust Fund money 
can no longer be used to balance the budget.
  The bill also provides that any Trust Fund money invested with the 
U.S. Treasury will be in the form of marketable negotiable Treasury 
bills, not the unredeemable I.O.U.s now used.
  I invite my colleague to cosponsor this bill with me.

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