![]() ![]() Money taken out of the trust fund would be credited to the Social Security account. ![]() Social Security benefits are not affected.If Congressional Budget Office estimates are correct and the government needs to borrow from the Social Security trust fund, here are the effects of the move: *Includes Social Security trust funds as well as the net cash flow of the Postal Service ![]() Here's the math behind the Congressional Budget Office prediction: If revenues fall short, the government has customarily borrowed from Social Security. ![]() figures its annual bottom line by including all tax revenues - including taxes that can only be used to pay Social Security benefits. Kent Conrad, the Democratic committee chairman from North Dakota, told Daniels.Ĭonrad was referring to the White House position that the federal government can afford to pay for Bush's proposals to increase spending in such areas as defense and education without dipping into the Social Security surplus. "Frankly, when you come before this committee and say that we can honor all the commitments for 2002, I tell you, I think it defies logic and defies truth," Sen. The sharpness of the debate was evident at a Senate Budget Committee hearing Thursday that offered Democrats - who now control the chamber - their first opportunity to question White House budget director Mitch Daniels since the White House and the Congressional Budget Office released their mid-session budget projections. ![]()
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