Editor's note: Part of the CNN Republican debate fact-checking series.
(CNN) - The statement: The Social Security payroll tax cut that President Barack Obama is seeking to extend "will cost the Social Security trust fund another $112 billion, and we don't have enough money this year in the Social Security trust fund to put out those checks - which means we have to go to the general Treasury to get the money." - Republican presidential candidate Rep. Michele Bachmann, at Saturday night's ABC News debate in Iowa. She added that the tax cut "blew a hole" in the trust fund.
The facts: The Obama administration says the Social Security payroll tax cut is projected to cost about $112 billion in the coming year. The administration says the money that would have gone to the trust fund would be made up from general revenues, with "no effect on individuals' current or future Social Security benefits."