Posted on 07/14/2011 10:39:16 AM PDT by Libloather
Reid: No Social Security checks without debt deal
AP – 10 minutes ago
WASHINGTON (AP) — Echoing President Barack Obama's warning, Senate Majority Leader Harry Reid says Social Security payments would stop if there is no deal to raise the government's borrowing limit by Aug. 2.
Speaking on the Senate floor, the Nevada Democrat said flatly that payments for veterans benefits and the military, as well as Social Security, would cease if the government defaults on its obligations. His statement goes beyond Obama, who said earlier this week that he could not guarantee Social Security checks will be issued on Aug. 3.
Later, a Reid spokesman said the senator meant to say the payments "could" stop, which would be consistent with the president's comments.
Republicans have called such statements scare tactics.
(Excerpt) Read more at my.news.yahoo.com ...
Sure would like to know which side is betting money on a default.
That will be THEIR CHOICE if those checks stop!
They have the monthly revenues to meet the monthly SSIP, VA, MIL and Medicare expenditures. This is no different than a family skipping their mortgage pmt to pay their credit card min pmt and then partying the rest of it away.
It is good to see the Dems have their priorities straight.
To be specific, Mr. Obama lied when he threatened on July 12 that there wouldn't be enough money to send out Social Security checks on August 3 if the debt ceiling isn't raised.
The federal government receives more than $200 billion in tax revenue a month. Interest on federal debt per month is $29 billion. Social Security costs per month are about $49 billion. Medicare and Medicaid about $50 billion. Active duty military personnel and veterans programs some $2.9 billion each. Those monthly costs add up to around $134 billion - which leaves $66 billion per month left over.
The problem is - and get ready for this - the federal government is spending $108 billion more than it takes in every month now. The CBO estimates are that Washington spent $973 billion more, which means borrowed, than it received for the first nine months of FY2011. The Demagogues are digging the hole we're in $108 billion deeper every month - and they say the only way out is to keep digging and borrowing more!
I say no. I say this has to stop. Which is why I must admit I am keenly disappointed by my fellow Republicans in the House leadership, whom I feel have been suckered into a red herring trap on this.
They keep proposing ridiculous alternatives to Mr. Obama's impossibly destructive demand to raise both the debt ceiling and taxes - such as "entitlement reform," and agreeing to raise the debt ceiling by trillions right now in exchange for what Congressman Allen West appropriately terms "fairy dust" cuts in spending years from now.
I feel what they need to insist on is spending reform right now. As we saw in the numbers above, this requires the following actions by the House:
*Refusing to raise the debt ceiling. (Remember that only the House has the Constitutional authority to raise it, or indeed to authorize any and all spending by the federal government.)
*Specifying that the approximately $200 billion in monthly federal revenues be first spent as itemized above (debt interest payment, Social Security, et al).
*Negotiating with Mr. Obama on how the remaining some $66 billion in monthly revenues should be prioritized. This is the only discussion the House leadership should be having with Mr. Obama.
The discussion should go something like this. Mr. Obama, you've been spending $174 billion a month beyond the most essential priorities of debt service, Social Security, etc., and as of next month, you'll only have $66 billion. As Commander-in-Chief, a most basic responsibility of yours is to provide for the national defense, so a significant fraction of that $66 billion must go to the Pentagon. How do you propose to spend what's left, realizing that a majority of the House has to agree?
The frustrating part for me is their formula for spreading lies.
Step 1: Tell the lie
Step 2: “some” of the public-at-large hear it
Step 3: Said public-at-large believe it and run in circles shouting the sky is falling
Step 4: The liar waits 1/2 day to a full day or more depending on expected external pressure to “fix” the statement
Step 5: The liar clarifies initial statement with a bullcrap patch to cover his flanks (not that the press would call them on it)
Step 6: Liar sees Step 3 and says mission accomplished
From your keyboard to God’s monitor.
I’ll send mine back if it will keep the Republicans on track.
That is incredibly funny. Or is it?
What a mess. Thanks for the catch and providing it to us.
he’s a liar. he said back in May that the debt ceiling has no bearing whatsoever on Social Security.
It's OK if it's for the cause. Alternatively, just have a revelation.
Mark Levin was making this same point last night.
I am sure you’re not one of those who voted for Dingy Harry ... that being said ... what the HE!! was Nevada thinking when the re-elected this “person”
*The Democrat House*
I know you meant the Senate, but you wrote House...
Sounds like Moslems. HUMMM???!!!
The problem with lying to the public that the sky is falling is that the sky must fall.
Happened to be sitting in a large med clinic waiting room in a military town when this went across the cable news chanel ticker. Two women went off on Obama immediately.
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