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Thread: Obama says he cannot guarantee Social Security checks will go out on August 3

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    Re: Obama says he cannot guarantee Social Security checks will go out on August 3

    This is a blatant lie from Obama.

    This money doesn't even come from the same place.

    So, does that mean, every time we pay social security checks, we borrow it from China? Really, Mr. President?

    Bald....faced.....lie.

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    Re: Obama says he cannot guarantee Social Security checks will go out on August 3

    With the Treasury having to deal with 3- and 10-year Notes and 30-Year Treasury bonds on August 3, questions about how many creditors will not want to roll over their positions, and questions about daily cash inflows and the overall cash position, I don't believe any guarantees can be made should the nation fail to raise its debt ceiling. Almost certainly, debt-related payments would take precedence over everything else, including Social Security payment, payment of troops' salaries, Medicare payments, etc.

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    Re: Obama says he cannot guarantee Social Security checks will go out on August 3

    Quote Originally Posted by toddwv View Post
    It's not a threat, it's the truth. SS isn't in a lockbox, it has been dumped into the general fund for decades in order to mask out-of-control "defense" spending. Right now, some "contractor" in Iraq is using SS money to pay for a new 'Beamer.

    So, there is no guarantee that SS checks will go out. Those who are already receiving checks will most likely get them, those who are applying for new benefits probably won't.
    Thank you. I was just going to say that. I can't believe our government is doing this. I'm rather sickened right now at everyone involved but mainly the Tea Party, the Republican party and anyone who believes its okay to have companies like GE not paying income taxes and instead feel its ok that elderly who paid into the system can't have their ss checks.

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    Re: Obama says he cannot guarantee Social Security checks will go out on August 3

    Quote Originally Posted by GoVote2012 View Post
    Thank you. I was just going to say that. I can't believe our government is doing this. I'm rather sickened right now at everyone involved but mainly the Tea Party, the Republican party and anyone who believes its okay to have companies like GE not paying income taxes and instead feel its ok that elderly who paid into the system can't have their ss checks.
    GE, which is run by Obama's favorite buddy, Immelt? The one that got all the stimulus money? That GE?

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    Re: Obama says he cannot guarantee Social Security checks will go out on August 3

    Quote Originally Posted by Erod View Post
    This is a blatant lie from Obama.

    This money doesn't even come from the same place.

    So, does that mean, every time we pay social security checks, we borrow it from China? Really, Mr. President?

    Bald....faced.....lie.
    Payments for Social Security come from payroll tax collections and liquidation of Treasury securities held by the Social Security Fund. Payroll tax revenue is not restricted to Social Security. The funds are treated as general revenue. Were the nation to fail to raise its debt ceiling, all revenue (including payroll tax revenue) would almost certainly be used to meet debt obligations ahead of everything else.

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    August 1, 2011

    Today, on CBS news, Pres Obama stated that he could not guaranty that checks for social security, will go out on time, unless the debt issue is resolved by August 3, 2011
    Does anyone think this odd?

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    Re: August 1, 2011

    Not for scare mongering ... no. Not odd at all.
    I think if Thomas Jefferson were looking down, the author of the Bill of Rights, on whats being proposed here, hed agree with it. He would agree that the First Amendment cannot be absolute. - Chuck Schumer (D). Yet, Madison and Mason wrote the Bill of Rights, according to Sheila Jackson Lee, 400 years ago. Yup, it's a fact.


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    Re: Obama says he cannot guarantee Social Security checks will go out on August 3

    It is what it is. They want to dig in their little heels and hold their breath? No problemo. Just be aware that more news like this is going to be flooding in as we pass That Date.

    I hope nobody has the nerve to act surprised.

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    Re: Obama says he cannot guarantee Social Security checks will go out on August 3

    They are going to keep America hostage the next two weeks until we throw away our poor to help our rich so our bills get paid. How sickening.

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    Re: Obama says he cannot guarantee Social Security checks will go out on August 3

    Quote Originally Posted by GoVote2012 View Post
    Thank you. I was just going to say that. I can't believe our government is doing this. I'm rather sickened right now at everyone involved but mainly the Tea Party, the Republican party and anyone who believes its okay to have companies like GE not paying income taxes and instead feel its ok that elderly who paid into the system can't have their ss checks.
    This situation is not happening, yet. It still is not the most likely scenario. The President merely answered a question concerning what is still a hypothetical outcome.

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