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Obama says he cannot guarantee Social Security checks will go out on August 3
By
Corbett B. Daly
President Obama on Tuesday said he cannot guarantee that retirees will receive their Social Security checks August 3 if Democrats and Republicans in Washington do not reach an agreement on reducing the deficit in the coming weeks.
"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," Mr. Obama said in an interview with CBS Evening News anchor Scott Pelley, according to excerpts released by CBS News.
The Obama administration and many economists have warned of economic catastrophe if the United States does not raise the amount it is legally allowed to borrow by August 2.
Lawmakers from both parties want to use the threat of that deadline to work out a broader package on long-term deficit reduction, with Republicans looking to cut trillions of dollars in federal spending, while Democrats are pushing for a more "balanced approach," which would include both spending cuts and increased revenue through taxes.
Read the rest of the article: http://www.cbsnews.com/8301-503544_1...89-503544.html
Pants on fire! Someone is lying - who is it? Obama or Reid? Even David Gregory has a hard time with this! Oh my, these politicians really should get together once in a while (maybe on the golf course?) to discuss how they are going to spin the rhetoric so they are all on the same page.
REID: One of the thing that always troubles me, when we start talking about the debt, the first thing people do is run to social security. Social Security is a program that works and it’s going to be, it’s fully funded for the next 40 years, stop picking on social security. there are a lot of places…
GREGORY: “Senator, you’re really saying the arithmetic on social security works?”
REID: “I’m saying that the arithmetic on Social Security works. I have no doubt it does.
GERGORY: “It’s not in crisis?
REID: “No, this is something that’s perpetuated by people who don’t like government. Social security is fine, are there things we can do to improve social security? Of course, I’m not going to go to backdoor methods to whack social security. I’m not going to do that, we have a lot of things we can do with this debt. But one places I’m not going to be part of picking on is Social Security”
Videos here: http://bsfootprint.com:82/politics-politicians/obama-admits-there-is-no-social-security-trust-fund
I guess you can toss a coin to choose who to believe?