Also note this post:
Troops’ Next Paycheck Disappears if U.S. Defaults
Military.Com ^ | Oct 15, 2013 | Richard Sisk
Posted on Tuesday, October 15, 2013 8:30:04 AM by BulletBobCo
Mark Levin Show 10-8-2013:
3:00 The military is not 50 percent of the budget. Yet Obama went after the military in this battle because he hates the military. He went after them by 50% compared to other budget items.
11:21 on the audio: We will never default on debt payments unless they are so massive we cannot make payments-not because of debt ceiling fight..but the obligations we are taking on. Obama wants the debt ceiling raised to pay for future projects. NOT TO PAY FOR BILLS WE OWE NOW.
20:00 Social security checks will come no matter what until the year 2038, in which time it is all gone. Congress took surplus out of SS fund. U.S. treasury issued IOU’s can be redeemed when default. 2010 was the first time defaulted since 1983. Recovered with IOU’s from the treasury. Treasury can borrow 1.00 to replace 1.00 in IOU paid to SS fund. The federal reserve gives them the dollar. It still remains under the debt ceiling.
24:35 It is a federal statute to pay SS. The govt. redemption of treasury bond would not breech debt ceiling.