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to set that surplus aside and keep each Congress and president from spending it. An accounting gimmick of special bonds was set up as the repository for these funds, but those bonds exist only as an acknowledgement that the general fund owes future social security annuitants a sum now approaching a trillion dollars, and an unenforceable commitment that future Congresses and presidents will in fact raise the money to pay the social security benefits that are promised.
Newt Gingrich and his Republican co-conspirators have decided to call the social security surplus a “budget surplus” and to try to use it for a tax cut, 60 percent of which would go to the richest two percent of Americans. It is the money that President Clinton has pledged to protect from congressional action.
Augustus C. Johnson
Syria
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