[Congressional Record Volume 145, Number 134 (Wednesday, October 6, 1999)]
[House]
[Page H9413]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




   30-YEAR RAID ON SOCIAL SECURITY TRUST FUND HAS STOPPED WITH THIS 
                               LEADERSHIP

  (Mr. ARMEY asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. ARMEY. Mr. Speaker, because Republicans have held the line on 
spending, $115 billion from the Social Security taxes are saved for the 
trust fund and to pay down debt. Republicans have stopped the 30-year 
raid on Social Security, and we are determined to make sure that this 
program is never raided again.
  That is why we have announced that we will not schedule any 
legislation that spends one penny of Social Security Trust Fund. This 
leadership is committed to ending the 30-year raid on the senior's 
Social Security plan and to paying down the debt.
  It is really a simple proposition. The Democrats have a risky scheme 
to finance big government spending on the backs of senior retirement 
plans. Republicans want to lock away every penny of Social Security for 
seniors.
  Mr. Speaker, the President wants to spend the Social Security 
surplus. That is right. President Clinton wants to spend the Social 
Security surplus.
  The President's budget would spend $57 billion of Social Security in 
fiscal year 2000 alone. The President's $57 billion Social Security 
spending spree is equal to the yearly Social Security taxes paid by one 
out of every eight American workers.
  It gets worse, Mr. Speaker. The President's $50 billion Social 
Security spending spree is equal to the yearly Social Security benefits 
for one out of every seven senior citizens.
  Mr. Speaker, let me repeat. Not one dime of our Social Security taxes 
will be spent for something other than Social Security. Beginning in 
fiscal year 2000, we are stopping this 30-year raid.




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