EXECUTIVE OFFICE OF THE PRESIDENT OFFICE OF MANAGEMENT AND BUDGET WASHINGTON, D.C. 20503
STATEMENT OF ADMINISTRATION POLICY (THIS STATEMENT HAS BEEN COORDINATED BY OMB WITH THE CONCERNED AGENCIES.)
September 24, 1998
H.R. 4578 - Save Social Security Act of 1998
Rep. Archer (R) TX
H.R. 4578 violates the President's pledge to save Social Security first.
It calls for tens of billions of dollars to be drained out of projected
budget surpluses before any action has been taken to strengthen Social
Security for the long term. The President firmly believes that none of the
projected surpluses should be touched until the long-term solvency of
Social Security has been fully secured.
The unique opportunity to save Social Security must not be squandered. The
Administration, therefore, strongly opposes H.R. 4578. If the bill were
presented to the President in its current form, he would veto it.