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Congressional Response: Representative Wally Herger (R-2nd, CA) Responds To Your Lockbox Petition
Thank you for your interest in the Social Security Trust Fund and the Social Security Lockbox legislation I introduced. Each year, more dollars flow into the Social Security Trust Fund from FICA taxes than flow out of it in Social Security benefit payments. Yet, the current budget process does not protect those surpluses from being mixed with the rest of the federal budget and spent on non-Social Security programs. This is wrong. Social Security surpluses must be protected for both current and future Social Security recipients. As you may know, I introduced legislation that would protect the Social Security Trust Fund by taking it out of the general federal budget and create a lockbox to protect it from being spent on unrelated programs. The Social Security Lockbox bill passed the House of Representatives on several occasions but was blocked by the Senate. Nevertheless, efforts to reach the goal of not spending Social Security Surpluses were successful in 1999 and 2000. Currently, the recent slow economy coupled with homeland security and defense spending in the wake of the attacks of September 11th have made it more difficult to cordon off the Social Security Trust Fund. As Congress and the President continue to do everything possible to combat the evil of terrorism here and abroad, I will continue to advocate fiscal responsibility and the protection of the Social Security Trust Fund. Again, I appreciate your interest in the Social Security Lockbox and for signing the TREA Senior Citizens League petition. Sincerely, February 2004 | ||||||||
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