Senator Charles Grassley defends the idea of dipping into the Social Security surplus as federal budget expectations fall. A new report out today shows there is not a surplus, but a nine billion dollar federal budget deficit. Grassley approves of tapping the Social Security surplus.Grassley says the federal government will make the second-largest-ever dent in the national debt.Democrats are calling on President Bush to submit a new budget sketch to Congress to account for the dip in available money, but Grassley, a republican, says that’s not necessary.Grassley says if democrats had had their way, the tax rebate checks would have never been issued — and the level of government spending would be have been a half-trillion dollars higher.
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