Skip to comments.President Obama ties debt ceiling to Social Security
Posted on 10/03/2013 4:21:51 PM PDT by SkyPilot
President Barack Obama warned Thursday that as bad as the government shutdown is, a failure to raise the debt ceiling would be even more damaging to the U.S. economy, and called on congressional Republicans to end their irresponsibility on both issues.
As reckless as a government shutdown is an economic shutdown that results from default would be dramatically worse, Obama said on the morning of the third day of the government shutdown, at an event held at M. Luis Construction Company in the D.C. suburb of Rockville, Md.
The president had on Wednesday warned Wall Street that this times different, and that a default seems more likely than it has in past debt ceiling crises. On Thursday, he expanded his message to convey how a default would hit the entire economy.
(Also on POLITICO: Is a grand bargain only way out?)
In a government shutdown, Social Security checks still go out on time. In an economic shutdown, if we dont raise the debt ceiling, they dont go out on time, he said. In a government shutdown, disability benefits still arrive on time. In an economic shutdown, they dont.
In a government shutdown, millions of Americans not just federal workers everybody faces real economic hardship. In an economic shutdown, falling pensions and home values, and rising interest rates on things like mortgages and student loans, all those things risk putting us back into a bad recession, which will affect this company and those workers and all of you, he said.
Failing to raise the debt ceiling would be the height of irresponsibility, Obama said, rare anger coming through in his voice. And thats why Ive said this before, Im going to repeat it: there will be no negotiations over this."
(Excerpt) Read more at politico.com ...
I predicted Obama would do this. He's right on time.
The truth be told, however, is that many conservatives and card carrying Tea Party members will shout "We Are Broke!" from the rooftops, but when it comes to Social Security or Medicare, it is always: "But that's MY money!"
The big-eared Kenyan isn’t from this country.
I’ll be happy to return my SS checks.
“never let a contrived crisis go to waste”
It’s SUPER DUPER RECKLESS! 200% more recklessity!
The problem with Obama and his overgrown adolescent brethren is their reliance on superlatives. Everything is the worst, the least, the most, the best, the greatest, etc.
This Axelrodese Impresses the gullible like Obamaphone voters and Poli Sci PhDs but once you’ve broken the glass to get the fire extinguisher out you can’t pretend it’s still intact for the next big emergency.
Social Security is welfare just like the rest of it. And no, it isn’t their money. Their money got spend the minute the government took it.
Increasing the DEBT by 6 trillion dollars is the height of irresponsibility.
The dont he signs curtailing SS checks is also his death warrant
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if one senior citizen dies of a heart attack because of this fearmongering, IT’S OBAMAS FAULT!
He has - he used it in 2011.
In fact, this news story capture is from 2011:
Obama and his advisers know that threatening SS checks affects millions of people - and not just hardened Democrats. There are many, many registered Republicans who collect Social Security, and he knows any threats to it get them very nervous.
The problem is that the Democrats (They have actually changed now and should be called Socialists) have decided that they will use all means to gain the advantage. It matters not whether it hurts the same folks that they (supposedly) represent. It is simply a means to an end, and the end seems to be Socialism for all.
We have come to a crossroads with one side wanting a Socialist outcome (like Sweden but on a grand scale) or worse some other socialist but non-democratic country to be named. If you really look at the Constitution, things have continued to spiral out of control from the Congress to the President to the Supreme Court. All seem to be discarding the Constitution. I’d guess that this must happen before you change really change the Government.
Yes, things look really dim for America at this point. We have elected (well not we) the most Progressive (Socialist) President in modern times and now we pay the price. Seems that way too many now want free things at the expense of those working for it. Once we pass the magical 50% margin, well, things WILL change.
Extremely glad that I won’t be around to see the demise but I do fear for my children. Time for more States and State areas succeeding and maybe even another revolution I’d think.
Our forefathers have given us a Constitutional Republic but it seems that we can NOT keep it.
Navigator to pilot, navigator to pilot, you are over the target, repeat, you are over the target.
Bozo’s damaged our credit rating once already.
Obama is a sadistic piece of crap.
I'm afraid not. With this big government shutdown in effect we might only be printing 50 billion dollars a month instead of 85 billion, but the magical appearing money is still pouring out of the Fed.
As long as there's a positive Social Security Trust Fund balance (it's currently at four trillion dollars), Social Security benefits can be paid by redeeming those bonds with no increase in national debt.
Any failure to do that should be a capital offense.
Well, it is!
Muslims have a habit of embedding their military in places where they know Westerners will refuse to strike, such as civilian neighborhoods, children’s hospitals, etc. In other words, they hold these people as hostages. Obama has that mindset, since he was raised outside the American homeland as a Muslim. His gambit is to hold social security recipients as hostages to force through his monstrosities.
I think there is some truth to that. To be sure, it has been hard not to notice that the Tea Party traditionally has not protested Social Security or medicare nearly as passionately as they have protested every other federal program. And I think it has been bad for their rep overall.
Not exactly. Especially the older retirees; what they collect is far beyond their contributions.
As an extreme example, Ida Mae Fuller paid $22 in FICA deductions; she collected $22,000.
“Seems that way too many now want free things at the expense of those working for it. Once we pass the magical 50% margin, well, things WILL change.”
that is the crucial point. all the whining, lying, taxing, looting, diversity celebrations, Christian bashing, will all end. I don’t know the outcome, I just know it has to come.
If government *takes* my money and promises that I’ll get it back when I retire ... what is it about that you don’t understand?
Lol. Very good analogy. I predict some reporter from Fox News or the Washington Times will steal your line.
Harry Reid, in the Senate, has not allowed them to come up for a vote...
Well most will but don’t expect the Christian bashing to end. That is part of the “get rid of morality” thing that Socialists desire. If is a requirement for them to rule.
Someone should tell the Idiot in Chief that not raising the debt ceiling is not the same as default.
noob, we don’t bash social security because it has been paid into, and there are solutions to those problems—obamacare is being piled on top of the debt, PLUS it is a means to control our lives.
noobs don’t need to tell the tea party they aren’t sufficiently conservative. We have been fighting excess for years.
You are correct.
The media lies.
Harry Reid lies.
Nazi Pelozi lies.
I deem thee a Troll!
(not a very good one, your handler should put you on a watch list for under-performance)
Social Security is a classic Ponzi scheme. In fact, it fits the very definition of one:
noun: Ponzi scheme; plural noun: Ponzi schemes
1. a form of fraud in which belief in the success of a nonexistent enterprise is fostered by the payment of quick returns to the first investors from money invested by later investors.
There is no vault of someone's money. All of "your money" and "my money" that was "paid into" Social Security is already spent. The only way it is financed is through current payroll taxes on the dwindling number of people still working, and interest on the debt.
The people who are actually collecting now are taking money from those who will never see "their money."
The three worst actors in our exploding spending are all mandatory entitlements: Medicare, Social Security, and Medicaid. Two of three are earned entitlements, Medicaid is unearned. I think there should be a distinction, because at least those collecting earned did pay something, but those programs are still destroying us as a nation fiscally. Period.
It isn't even close. Even if we zeroed out Defense spending, entitlements will destroy us.
The Sequester exempted all entitlements. So the greatest cause of our exploding debt and deficits was punted.
Medicare is the same principle, just a different program. The amount of money "paid in" is dwarfed by how much current recipients of the insurance collect in benefits (average is by a factor of 3).
That is why the only solution to save our nation is a Simpson-Bowles type of compromise involving tax and entitlement reform.
Both sides passed a budget this year. It has not gone to conference because there is fear that those on the conference committee would give away the farm.
So while the Senate finally, finally passed a budget...there still is an impasse because of the fear of getting a knife in the back by RINO’s in the House and Senate.
Your point could have been made w/ out the perjorative.
Oh yeah, using their own playbook on shoving granma down the stairs in her wheelchair .....
Sorry - I genuinely don't know what you mean. If I used any offensive language or term, I didn't mean to. What are you referring to?
“Hardened Democrats.” I just love that.
Yeah, I wonder too. Did I just heap praise on a pejorative? I may need to take a shower or something....
Mark Levin tonight laid out ObeyMe's strategy on this. That illegitimate SOB is going to bypass Congress altogether and raise the debt ceiling, thereby allowing himself to be hailed as the savior of SS. You want to talk about Constitutional crisis? A president of the United States is going to usurp the power of the purse.
“Not exactly. Especially the older retirees; what they collect is far beyond their contributions.
My mother paid about $200.00 into SS and collected roughly $62,000 when she died at 91.
If Obama raises the debt ceiling on his own, the only recourse is to impeach him. Reid will never allow a real impeachment trial in the Senate even if the House voted for the articles (look what a joke of a “trial” BJ Clinton’s was). They refused to even hear the evidence!
Hussein Obama is very successful in doing what he was put in the White House for: He is destroying America $1 Trillion at a time.
The average American is smart enough to figure it out but they default to letting the press do all of their thinking for them.
And where does the press get their stories from? The government tells them what to print.
Who is Hussein Obama working for? He is obviously not working for us, he is working for them.
This default is exactly what obama and his handlers have been working for. The republicans are screwed. They should have fought this battle in 2011.
The nation changing law that is 100% Democrat?
That not even one Republican voted for?
The one passed in a dark night in late December?
As a side note to this thread, please consider the following.
It just dawned on me how the Constitution-ignoring, Democrat-invented, Social Security Ponzi scheme is completly incompatible with Constitution-ignoring, Democrat-invented abortion. After all, you need a growing pool of people investing in Ponzi schemes like Social Security to make them work.