The House of Representatives approved HR 4578, legislation to set aside 90% of the projected $1.6 trillion surplus for Social Security and HR 4579, legislation to use the other 10% of the projected surplus for an $80 billion tax cut.

"The Republicans say they're going to ‘set aside' 90% of the surplus and spend 10% of the surplus on a tax cut, but what they're not being honest about is that the so-called surplus is nothing more than Social Security trust fund revenues," Smith explained. "That is money people pay through payroll taxes that the government is supposed to hold in trust and give back to people upon retirement. It's the people's money, and it's wrong to spend it. We would send businessmen to jail if they spent employees' pension funds."

Smith says it is ironic that the Republican leadership, who — rightly, he says — first opposed borrowing from the Social Security trust, now want to continue the irresponsible practice.

"I'm disappointed that the Republican majority has forgotten its key message — fiscal responsibility," Smith said. "They're trying to spend the same money twice, and that's going to sink us further and further into debt."