GOP Pushes to End Social Security Raids
Republicans who control Congress are determined to end decades of raids on the Social Security trust fund by locking the money away under strict congressional control, GOP leaders said.
Rep. James E. Rogan (R-Glendale) promised in the party’s weekly radio address that Congress would pass the so-called Social Security Lock Box bill this week. The legislation is intended to prevent the administration and others from raiding the fund to pay for other programs, he said.
It would be the first time that Congress has guaranteed that the Social Security trust fund is to be used only for the popular national pension system, Rogan said.
The GOP proposal requires 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.
Social Security and Medicare are in jeopardy of the financial insolvency expected as baby boomers enter retirement.
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