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I found this on one of the many sites I've visited lately, about the social security bull crap that could be in our future according to our wonderful President.
Obama is using scare tactics again. Here’s info from a newsletter today:
The Treasury is expected to bring in $172 billion in tax receipts next month. We will not default on our debt because we will service our debt first and those payments amount to about $35 billion.
This leaves $137 billion for Social Security, Medicare, Medicaid and Military checks.
Social Security checks will cost $20 billion. Medicare and Medicaid come in under $68 billion; Military paychecks cost about $7 billion. All together that equals $95 billion.
After these essential checks are sent out, the government will still have $42 billion to fund other programs (like the wars.)
When Obama claims seniors might not get their social security checks, it is a threat. Treasury Secretary Tim Geithner has the authority and responsibility to prioritize spending should the debt limit be reached. He decides where money is spent.
So it is his decision whether we pay our debt, and it is his decision whether we pay our seniors or our military.
Either Barack Obama is the most ignorant man ever to hold the Office of the President, one of the most duplicitous or maybe just the most gullible if he has allowed Geithner to convince him there might not be money available to send out Social Security checks.
A man this out of touch or duplicitous has no business running the financial affairs of the country. A quick look at the Monthly Treasury Statement of Receipts and Outlays of the U.S. Government puts the lie to Mr. Obama’s “uncertainty.” During the past 18 months, the entire monthly expenditures of the Social Security Administration comprised an average of 36.1 percent of total monthly receipts of the federal government, never once exceeding 58 percent and less than 30 percent seven of the 18 months.
Average monthly interest on the national debt averaged 17.9 percent of total revenues over the same 18-month period. Combined, Social Security and interest on the debt averaged just under 54 percent of total revenues.
There is more than enough revenue to ensure that all interest on the debt is paid and all Social Security checks go out even if the federal government cannot borrow another penny.
There is absolutely no need for a default if the debt ceiling is not raised. If the U.S. Government defaults on the national debt or fails to make all Social Security payments in full and on time, it will be because the President of the United States intentionally and with malice aforethought refused to take the actions within his power and incumbent upon him by the oath of office he took when he became president to prevent these catastrophes from happening.
In it unambiguously clear that President Obama is willing to force the U.S. Government into default and fix the blame on Republicans to win back the White House and the House of Representatives for the Democrats. Obama took the Republican leadership’s sellout of their conservative loyalists to a new low: He sold out his country.
He lied? No way!
