President Obama says he can't guarantee that Social Security checks will go out August 3 if the debt limit isn't raised on August 2. (Note the deadline he's put forth is the day before the checks go out?)
CBS News posted an interview with Obama:
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.
No money in the coffers?!
Wait a minute. Social Security is a trust fund paid for by you, me, our grandparents, our parents and our children. Obama is admitting that there's no money in the trust fund and is borrowed money.
Senator Marco Rubio drove this point home in an interview today with Rush Limbaugh:
RUSH: So we will only go into default if Obama makes us default. I mean he can stop this, right?
SENATOR RUBIO: Sure. He can stop it right now by basically saying, "You know what, we need to do something to grow our economy. Let's pass tax reform. Let's pass regulatory reform." He can stop this by also starting to implement some of the spending measures we think are necessary. He can also stop it by basically prioritizing spending on certain things if it comes to that. But let me tell you one thing, Rush, that no one said yet or maybe they have, the fact that payments on Social Security and Medicare may stop is a stinging indictment and a wake-up call. What Americans should realize, "Hold on a second, my Social Security check and my Medicare benefits are borrowed? The money that you're using to pay for my Social Security are borrowed? I thought I paid into a trust fund. I thought I worked my whole life to pay into some system and now you're paying my money back and you're claiming that the money is being borrowed?" That's what they're basically conceding when they're saying this.
Where do you suppose he got some of the money for his massive spending over the past two and a half years that has gotten this country into a $14 trillion hole? The Social Security trust fund! All this spending was to create his socialist utopia and to pay off his union buddies.
Obama is also lying. Entitlements aren't supposed to be affected by the debt limit. Social Security is an entitlement.
Obama is holding a gun to the heads of senior citizens. This is nothing less than economic terrorism.
To see the CBS News report, go here.
To read the full transcript of Sen. Rubio's interiew, go here.
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