Social Security Lock Box
Accusing Democrats of recklessly spending Social Security money, Rep. James Rogan today trumpeted a Republican measure that he said would lock away the trust fund for its intended purpose.
The California Republican promised that his party would pass the so-called Social Security Lock Box bill next week, and said the measure would ensure the administration and others could not dip into the fund to pay for other programs.
"Under current law, the president can simply issue IOUs to the Social Security trust fund, while he spends this money for other things," Rogan said in the weekly Republican radio address. "This is wrong."
The GOP proposal would require two-thirds approval from Congress to use any of the $1.8 trillion in projected Social Security surpluses over the next decade for anything other than Social Security or Medicare. Both are in jeopardy of financial insolvency as the baby boom generation retires. "That's a high threshold to make sure we only spend those dollars on real emergencies," Rogan said.
Democrats have balked at the proposal, which they say would give Congress too many loopholes to get at the money. They blocked a similar measure in the Senate.
But Rogan defended the bill, saying it would halt the practice of using Social Security money to claim there is a budget surplus an excuse to go on a spending spree. He also chastised President Clinton for his plans to spend parts of the surplus in the years ahead on programs not related to Social Security.
"As long as the tax and spend crowd can reach into the Social Security surplus, there is no incentive to cut waste in our government, or for that matter, fraud in the system," Rogan said.
Safeguarding Social Security has become a rallying cry for Republicans, eager to push forward an issues agenda that would overshadow their role in Clinton's impeachment.
Rogan, one of the House managers in the impeachment trial, could face an election challenge next year from Democrats. He won a second term last year with just 50.2 percent of the vote in his Pasadena-area district, which voted for Clinton in 1992 and 1996.