From staff reports

It remains to be seen whether Congress will in fact leave the Social Security surplus alone in fiscal year 2000, which begins in a few days.

Wednesday, September 22, 1999

It remains to be seen whether Congress will in fact leave the Social Security surplus alone in fiscal year 2000, which begins in a few days.

However, it is clear that Congress has not left the surplus untouched for 50 years.

And, despite its hoopla over &uot;not touching&uot; extra Social Security payroll tax collections in the 2000 fiscal year, Congress has no qualms over raiding 1999 Social Security funds in the next few days.

Kind of makes a person wonder.

With 10 days left in the 1999 fiscal year, Congress may spend several billion dollars in current-year Social Security surpluses on farm aid; and while farm aid is needed this year, using Social Security surplus funds to pay for it does not add up.

Even without added farm spending, the White House expects $24 billion in Social Security surpluses to be used in 1999 for &uot;general government purposes.&uot; The nonpartisan Congressional Budget Office projects that $4 billion will be used.

But they won’t do it again. Really.

Actually, the CBO projects that House budget plans would eat into the 2000 Social Security surplus by another $13 billion. And that does not include billions it will take to pay for the labor, health and education bill, which is still pending, and any new emergency needs, such as U.S. operations in Kosovo, hurricane relief or other expenditures.

Indeed, Republicans are already circumventing spending limits imposed two years ago as part of their balanced budget agreement, and are shifting billions in spending into fiscal 2001 to ease 2000 budget concerns.

Meanwhile, concerns about Social Security’s long-term viability linger on, even as those in Washington spend extra Social Security payroll taxes on everything under the sun.