Obama Administration Backpedals on Social Security Scare

Posted by on July 13, 2011 11:40 pm
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Categories: National Debt

LEE’S SUMMIT, July 14, 2011 – The Obama administration is trying hard to walk away from President Obama’s comments on CBS with Scott Pelley, where he said:

Mr. Obama: 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.

The facts around the Social Security issue do not back up President Obama’s statement: The Social Security Board of Trustees issued a report on May 13, 2011 that clearly states that there is sufficient funds in the Social Security Fund to continue to make payments, as long as it continues to collect as it has, till 2036 (click here).

So, either President Obama is wrong, or the Social Security Board of Trustees is wrong; which is it?

The logic in my mind truly puzzles me.  If President Obama is correct, then where did the Social Security money go?  Are we truly borrowing to make the payments to Social Security?  If that’s the case then we very well MUST change our spending habits.

Think about it.  Every paycheck we get, our company has to send money to the Federal Government and it is [supposed] to be put in a Social Security Lock Box to pay us back when we retire.  So if the Federal Government has to borrow to pay us; again I must ask: where did the money go?

If on the other hand, the Social Security checks are truly not in any jeopardy then why did the President make the statement?  The people who are on fixed income and rely on Social Security and Medicare to take care of themselves don’t need to have the worry of whether or not their money is going to be given back to them on August 3rd, 2011 in the appropriate amount.  It is not fair to scare those folks for no [good] reason.  Using the elderly as political pawns is not a good reason.

I hope the President can walk away from this statement: but, I honestly don’t see how.

Respectfully Submitted
The Lee’s Summit Conservative