Conference Report On S. Con. Res. 21, Concurrent Resolution On The Budget For Fiscal Year 2008

Floor Speech

CONFERENCE REPORT ON S. CON. RES. 21, CONCURRENT RESOLUTION ON THE BUDGET FOR FISCAL YEAR 2008 -- (House of Representatives - May 17, 2007)

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Mr. CANTOR. I thank the ranking member, Mr. Ryan.

Mr. Speaker and Members of the House, you know, when I sit here in almost astonishment and thinking, it's the fact that even though we are witnessing the massive tax hikes that are embedded in the Democrat budget, in fact, the largest tax increase in American history, what the majority's budget fails to do, it fails to stop the raid on Social Security.

In the year 2012, the Social Security fund will be running a surplus of $99 billion. As we know, the Federal Government has experience and has collected more in Social Security taxes than it pays out in benefits since 1984. Instead of using this money to shore up Social Security, instead of using it to do something to honor the contract that this government has made with the seniors, the Democrat budget spends that cash surplus on other programs.

What is astonishing is the fact that this very House, last week, in a vote on the Republican motion to recommit to stop the raid on Social Security, this House, in an overwhelmingly bipartisan vote, supported the end of that raid. But here we have the Democrat budget that goes back on that word represented by the bipartisan vote and starts again with the raid on Social Security surplus.

In contrast, the Republican budget that was offered several weeks ago does just the opposite, and, in fact, uses the surplus that will exist in 2012 to begin to shore up the Social Security system and to improve and enhance the vitality of that program for today's seniors.

Mr. Speaker, I strongly recommend a ``no'' vote on this conference budget report.

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