Today, when questioned by Majority Leader Cantor on the Social Security Trust Fund, Minority Whip Hoyer defended the Democrat position of raiding the Social Security Trust Fund saying “we will sign the proper IOUs.” The proper IOUs? We’ve heard the story about how IOUs are as good as money, but it wasn’t on the House floor.
Majority Leader Cantor: I asked the gentleman, are you ok with raiding the social security trust fund? Because your response to my question indicated to me that it’s fine for you and your side to say ‘Let’s just raid the social security trust fund, and extend the payroll tax holiday without any pay-fors.’
Minority Whip Steny Hoyer: … I think we have a moral responsibility to make sure that the trust fund is kept whole. And as you well know we will keep it whole. We will sign the proper IOUs so that [the] trust fund is intact.
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