Today, in an interview with CBS's Scott Pelley, Obama said that if we don't get a resolution of the debt ceiling impasse by August 2nd, Social Security checks won't go out "Because there may simply not be the money in the coffers to do it". Oh, really? For weeks now, Nancy Pelosi and other Democrats have been having fits over any Social Security cuts; basing their argument on the fact that the Social Security trust fund has enough funds to pay full benefits for 30 years. So, what is it? Will the trust fund become completely insolvent and unable to issue checks on August 3rd or not? Obviously, someone is lying.
Social Security has it's own funding that is supposed to be separate and distinct from any other federal revenues or spending. That's what a "trust fund" is all about. Additionally, under U.S. law, Social Security is a mandatory program. Did Obama just lie to get seniors all riled up in order to force Republicans to cave on raising the debt ceiling? If so, it is so typical of this President!
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