Democrats vote for borrowing from Social Security Trust

Professor Peabody · #1 (**permalink**) 07-17-2008, 11:07 AM

Quote:

DEMOCRATIC PROMISE #14: No More Borrowing from Social Security

Promise: “We will not borrow the money from the Social Security trust fund and from other creditors around the world.”
– Rep. Rob Andrews (D-NJ), House Floor Remarks, March 28, 2007

Broken Promise: 215 Democrats, including Democratic Rep. Rob Andrews (D-NJ), voted “NO” on a Republican proposal to prohibit increases in authorization spending levels if the Social Security surplus has been spent the previous year.

– Roll Call Vote #300, May 3, 2007

http://republicanleader.house.gov/br..._families.html

Quote:

U.S. Senate Roll Call Votes 110th Congress - 2nd Session

as compiled through Senate LIS by the Senate Bill Clerk under the direction of the Secretary of the Senate

Vote Summary

Question: On the Amendment (DeMint Amdt. No. 4328 )
Vote Number: 65 Vote Date: March 13, 2008, 06:08 PM
Required For Majority: 1/2 Vote Result: Amendment Rejected
Amendment Number: S.Amdt. 4328 to S.Con.Res. 70 (No short title on file)
Statement of Purpose: To provide for a deficit-neutral reserve fund for Social Security reform.
Vote Counts: YEAs 41
NAYs 57
Not Voting 2

http://www.senate.gov/legislative/LI...n=2&vote=00065

Just about straight down party lines, the Democrats have voted against bills that would create a deficit neutral social security trust fund.....WHY?

Quote:

Barack Obama's Plan
Protect Social Security

Obama is committed to ensuring Social Security is solvent and viable for the American people, now and in the future. Obama will be honest with the American people about the long-term solvency of Social Security and the ways we can address the shortfall. Obama will protect Social Security benefits for current and future beneficiaries alike. And he does not believe it is necessary or fair to hardworking seniors to raise the retirement age. Obama is strongly opposed to privatizing Social Security.

Obama believes that the first place to look for ways to strengthen Social Security is the payroll tax system. Currently, the Social Security payroll tax applies to only the first $102,000 a worker makes. Obama supports increasing the maximum amount of earnings covered by Social Security and he will work with Congress and the American people to choose a payroll tax reform package that will keep Social Security solvent for at least the next half century.

http://www.barackobama.com/issues/socialsecurity/

So why does he vote to keep deficit borrowing against the fund if he's so concerned about it's solvency?

Professor Peabody · #2 (**permalink**) 07-20-2008, 06:24 AM

From Barack Obama's Senate Website.

Quote:

Commonsense Budgeting Practices

Senator Obama believes that our current budgeting and borrowing practices are fiscally unwise and unsustainable. This is why he strongly supports and has voted for commonsense “Pay As You Go,” or “PayGo” rules, which would require any new increases in discretionary spending to be offset by a reduction in other areas of spending.

http://obama.senate.gov/issues/good_...ible_spending/

From his campaign website:

Quote:

Barack Obama's Plan
Protect Social Security

Obama is committed to ensuring Social Security is solvent and viable for the American people, now and in the future. Obama will be honest with the American people about the long-term solvency of Social Security and the ways we can address the shortfall.

Obama will protect Social Security benefits for current and future beneficiaries alike. And he does not believe it is necessary or fair to hardworking seniors to raise the retirement age. Obama is strongly opposed to privatizing Social Security.

Obama believes that the first place to look for ways to strengthen Social Security is the payroll tax system. Currently, the Social Security payroll tax applies to only the first $102,000 a worker makes. Obama supports increasing the maximum amount of earnings covered by Social Security and he will work with Congress and the American people to choose a payroll tax reform package that will keep Social Security solvent for at least the next half century.

http://www.barackobama.com/issues/socialsecurity/

But Barack obviously doesn't believe in "pay as you go" as he voted against a bill that would restrict deficit spending against the Social Security surplus but instead, now proposes a tax hike. His policies resemble a tornado...around and around and around. I'm getting dizzy just trying to keep up with what position he has from hour to hour.

submarinepainter · #3 (**permalink**) 07-20-2008, 06:26 AM

MrObama2008 please explain to me the potential voter !!

stekim · #4 (**permalink**) 07-21-2008, 05:04 AM

Quote:

So why does he vote to keep deficit borrowing against the fund if he's so concerned about it's solvency?

Actually, both sides are for borrowing against the fund. We do it EVERY year and have for a long time. Bush also claims to be concerned about its solvency, yet he borrowed against it all 8 years he's been in office. And the next President and Congress will to, regardless of which party is in charge.

Professor Peabody · #5 (**permalink**) 07-21-2008, 05:39 AM

Quote:

Originally Posted by stekim

Actually, both sides are for borrowing against the fund. We do it EVERY year and have for a long time. Bush also claims to be concerned about its solvency, yet he borrowed against it all 8 years he's been in office. And the next President and Congress will to, regardless of which party is in charge.

That is totally true. Both parties have been doing that. In the Senate only 7 Republicans voted against the limits.

stekim · #6 (**permalink**) 07-21-2008, 05:45 AM

The problem is this: When you spend more than you have, which we've been a record pace over the last 8 years, you can only get money from a limited number of places. Social security has its own budget, so it's an easy place to grab money before you head out to Asia to borrow the rest. The solution? Stop spending more than you have.

Professor Peabody · #7 (**permalink**) 07-21-2008, 09:51 AM

Quote:

Originally Posted by stekim

The problem is this: When you spend more than you have, which we've been a record pace over the last 8 years, you can only get money from a limited number of places. Social security has its own budget, so it's an easy place to grab money before you head out to Asia to borrow the rest. The solution? Stop spending more than you have.

They are addicted to spending. It's my belief many of those earmarks are gratuities for campaign contributions and campaign support, paying them back with OUR money. There's 17 Billion right there. I scathed Pelosi for her earmarks after she said she'd do away with all of them, but in all fairness, I looked at what they are being spent on and they appear worthwhile stuff, although they should be the venues of the city, state and county. The ones that get me are $50 Million dollars for an indoor rain forest in '06, $900,000 for Grape research, $200,000 for a study of bovine sleep habits, $680,205 Foundry Sand By-Products Utilization, $473,661 Barley Health Food Benefits, $473,661 Turf grass Research, $1,000,000 for a Woodstock Museum. While they have merit, why is the government paying for research for private industry? If it had to do with National Security or alternate energy which we need so badly I can see it....but grapes?

stekim · #8 (**permalink**) 07-22-2008, 09:32 AM

Quote:

They are addicted to spending. It's my belief many of those earmarks are gratuities for campaign contributions and campaign support, paying them back with OUR money.

I think you can move that from "belief" to "fact". Earmarks are either to buy votes for the next election or pay people back for getting you elected in the last cycle.

heikstheo · #9 (**permalink**) 07-23-2008, 07:49 AM

Is there such a thing as a politician who hasn't raided Social Security?

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