If Social Security Checks Stopped Coming It Would Only Be Because Obama Decided Not To Send Them
Because even if the debt limit isn’t raised, the federal government has enough money to fund them, plus all the other things the Democrats are saying would be shut down.
(CNSNews.com) – President Barack Obama told CBS News today that there may not be enough money in the U.S. Treasury to cover Social Security checks after Aug. 3 if Congress does not agree to lift the legal limit on the federal debt and allow his administration to borrow more money.
“I cannot guarantee that those checks go out on August 3rd if we haven’t resolved this issue. Because there may simply not be the money in the coffers to do it,” Obama told CBS News anchor Scott Pelley in an interview.
However, according to the Daily Treasury Statements published by the U.S. Treasury Department, the ongoing flow of federal tax revenue since the Treasury declared that it had hit the debt limit on May 16 has been more than sufficient to cover the combined costs of federal spending on interest payments, Medicare, Medicaid, Social Security, the Veterans Affairs department and federal workers wages and insurance benefits (including wages and insurance benefits for military personnel).
To be clear, something would have to give. Some spending would have to be cut, the government would just have to prioritize. Maybe Obama could stop flying around the country on Air Force One campaigning for re-election for a while. That alone wouldn’t do it, but you get my drift.
As usual, in order to scare Americans away from demanding less government, the proponents of big government immediately threaten the most popular sorts of spending. It’s a cheap political gimmick.
Tags: Barack Obama, deficits, national debt, social security
