Today Barack Obama said in an interview with CBS news that if a budget deal between the Democrats and Republicans is not reached by August 2nd, the $20 billion expected to go out in social security payments the following day may not go out. Obama said, “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."
This is such bull! The federal government receives 72 billion in social security tax revenue each month (this includes Medicare/Medicaid taxes taken out of our paychecks too)!!! That is almost 4 times the amount Obama states he needs for the month of the August 3, 2011 distribution.
According to Wikkepedia, "During FY 2010, the federal government collected approximately $2.16 trillion in tax revenue. Primary receipt categories included individual income taxes (42%), Social Security/Social Insurance taxes (40%), and corporate taxes (9%) Other types included excise, estate and gift taxes."
Excuse me, Mr. President, we have worked hard all our lives and paid money into social security/medicare/medicaid. Back in the eighties and nineties we were told Congress was putting it in a "lock box" so they couldn't spend it. Are you admitting that you have already spent our August 2011 distributions? THIS SHOULD OUTRAGE EVERYONE AS IT DOES ME. He is holding social security recipients hostage so he can get tax increases in a debt raising deal so they can spend more money!!! Call the White House and demand that Obama keep the federal government promise to social security recipients: Comments: 202-456-1111. Switchboard: 202-456-1414