DeMint Press Release Following Vote
March 16th 05:45:20 PM
53 Senators Vote To Raid Social Security
DeMint-Crapo Amendment Would Have Allowed the Senate to Stop Spending Social Security Surplus
Washington, D.C. – Today, fifty-three U.S. Senators voted against an amendment to the Fiscal Year 2007 Budget Resolution, introduced by U.S. Senators Jim DeMint (R-S.C.) and Mike Crapo (R-Idaho), which would have allowed the Senate to create a reserve fund to protect the Social Security surplus.
“Sadly, fifty-three senators turned their backs on America’s seniors,” Senator DeMint said. “There is simply no way to save Social Security if we don’t have the courage stop using the surplus as a secret slush fund. I’m thankful there were forty-six senators who stood with America’s seniors to end the raid. We will not be deterred by cynics who offer no solutions.”
“Those who voted against this amendment voted to raid Social Security,” said Senator DeMint. “Now, every senator will be on record whether they oppose or support the raid. This said absolutely nothing about personal accounts, it was about whether you believe Social Security should be saved or allowed to wither on the vine.”
“I’m saddened this amendment was characterized inaccurately as a privatization move,” Senator DeMint. “The American public and future generations of taxpayers will suffer if we cannot address the issues regarding Social Security and fiscal discipline. It is unfortunate that we continue to have partisan rhetoric cloud the issue, and I pledge to work with other senators to address the issue.”
The current Social Security system allows Congress to spend the Social Security surplus on other government programs. Including interest, Congress has raided $1.7 trillion from Social Security since 1985. The surplus now only consists of IOU’s stacked in a vault in West Virginia that can only be paid back by raising taxes or cutting spending.
The DeMint-Crapo Amendment to Stop the Raid on Social Security would have allowed the Senate to pass legislation with the following requirements:
· Social Security surpluses must be used to help pay for future benefits
· That it make no changes to the benefits of those Americans born before January 1, 1950
· That it provide a voluntary option for younger Americans to obtain legally binding ownership of a portion of their benefits.
Posted by Chris Schrimpf
Comments
WOOOOOOOOOHOOOOOOOOOOOOOOO! Just say no to that piece of crapo legislation.
>“Those who voted against this amendment voted to raid Social Security,”
Bullcrapo. Though most undoubtedly were, this implies that anyone who disagrees with your fascistic policies is in favor of the status quo. And that's crapo. Why don't you just cut payroll taxes? That'd get rid of the surplus.
SS Equity Funds EQUAL Big Government Corruption!
S4 Sucks and Gives Change!
Posted by Noid on March 16th 06:08:51 PM
Did you even read the amendment, Noid?
Posted by jeremy on March 16th 10:20:30 PM
Did you even consider that its goals were absurd and its proponents shamelessly insist on a false debate between those who support your fascist crap SS Equity Funds and those who support the status quo?
Did you even read *my* proposed solutions?
Posted by Noid on March 20th 12:28:20 AM
Oh, and before you ask, its goals are absurd because
"Social Security surpluses must be used to help pay for future benefits"
What the hell is that? The govt can't save money like even a fiction of a person like a corporation. Or I should say, that's a distinction between us and Red China that is generally well agreed upon, that govt doesn't do its own investing. Maybe you little hitler's would like to change that too.
" That it make no changes to the benefits of those Americans born before January 1, 1950"
Does that include screwing with the CPI so that we don't have to pay out as much? Raising the retirement age should be very much on the table and at least if it is, so is being honest about the CPI.
"That it provide a voluntary option for younger Americans to obtain legally binding ownership of a portion of their benefits."
Fine, then cut the damn payroll tax. No complicated SS Equity Funds needed.
Posted by Noid on March 20th 12:37:36 AM
Oh, I forgot:
SS Equity Funds EQUAL Big Government Corruption!
S4 Sucks and Gives Change!
Posted by Noid on March 20th 12:44:46 AM
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