1.   And he did not say what would happen if the projected surpluses never materialized.

2.   Archer said paying down the national debt would be a good alternative, but he insisted that the surplus will never materialize if politicians get their hands on it.

3.   Before that happens, though, the projected surpluses must actually materialize.

4.   Better to wait until the expected surpluses actually materialize, he reasons.

5.   Administration officials concede that the plan would credit Social Security with trillions of new dollars regardless of whether surpluses materialize.

6.   All of this, of course, assumes that the economy and the stock market remain strong enough that the surplus actually materializes.

7.   But they said paying down the national debt should get top priority if the projected budget surplus materializes.

8.   Clinton, who says that budget surpluses may never materialize, wants to pay down the national debt before cutting taxes.

9.   Democrats argued that the Bush tax cuts could lead to disaster if large projected budget surpluses never materialized.

10.   Democrats said it is imprudent to lock in a big tax cut now when there is no assurance that the anticipated surpluses will materialize.