"Obama himself upped the stakes Tuesday, telling CBS News anchor Scott Pelley that more than $20 billion in Social Security checks could be held up. "I can't guarantee that the checks will go out Aug. 3 if we haven't resolved this," Obama said. "There may simply not be the money in the coffers to do it."
Please call or write your Representatives, your Senators, even the White House, and tell them not to block Social Security checks, the only income a great many of us seniors have.
Here's the link for the interview between Scott Pelley and Pres. Obama: http://www.cbsnews.com/8301-503544_162-20078789-503544.html?tag=pop;stories
Subscribe to:
Post Comments (Atom)
When you call, reference this:
ReplyDelete[url]http://www.redstate.com/repair_man_jack/2011/07/12/mr-president-what-are-your-priorities/[/url]
According to James Pethokoukis, the US Treasury is not precluded from specifically making the next Social Security payment by actual liquidity. “Social Security payments Treasury needs to make on Aug 3. $22 billion. Treasury cash balance on Aug. 3: $74 billion.
In other words, the president is a lousy poker player. The money is there .... he wants you to thinks it's not.
Fom Chuck Butler who I listen to a lot:
ReplyDelete“Truth be told, we have more than enough tax revenue, right now, to pay the interest on the Treasuries, and military salaries, and so on for a few months.
There's about $500 Billion ($474 Billion) in Treasuries that will come due next month. The Treasury Dept, will roll these bonds over, take the new proceeds to pay off the old ones plus interest. That's how it works folks. That is, as long as there are buyers of the rolled over debt. And then you have to add in the "new debt" that has to financed. And the sloppy auctions lately, don't make this bond action next month a layup. And this is where the Treasury Sec. should be focusing his "default talk", because if things get real sloppy, as in, The Chinese don't show up with their truck to load it up with Treasuries, then there will be a default! And. once again, we as a country will be living one auction to the next auction.
Note: The debt ceiling has been raised so many times, 74 since 1962, if your counting, that it's just crazy stuff. it's not like these guys didn't see the ceiling level coming! So, I don't think they really believe it's a Big Deal!“
Obama will win this thing going away, the R's will fold or just tick everyone off when the market starts dropping like a rock, because of the default.
ReplyDeleteYou heard it here first folks, Mikie is all seeing and knowing. Good bless all those exorcists in Essex.
Mike