Debt-limit delay would jeopardize Social Security payments

[Casino67]

USAToday:

By Richard Wolf, USA TODAY

WASHINGTON — Social Security payments to millions of retirees and people with disabilities could be threatened if President Obama and Congress can't agree to increase the government's debt limit by Aug. 2, a new analysis shows.

Although the Treasury Department likely could avoid delaying Social Security checks, the analysis by the Bipartisan Policy Center points up the depth of the cuts that would be needed if the $14.3 trillion debt ceiling isn't raised.

It shows that in August, the government could not afford to meet 44% of its obligations. Since the $134 billion deficit for that month couldn't be covered with more borrowing, programs would have to be cut.

If Social Security, Medicare, Medicaid, unemployment benefits, payments to defense contractors and interest payments on Treasury bonds were exempt, that would be all the government could afford for the month. No money for troops or veterans. No tax refunds. No food stamps or welfare. No federal salaries or benefits.

[Saltbag]

Those that will be scared will be scared. Just hope we don't fold to the lemmings.

 

What would be nice to see from our side is a response with dollar figures that we can make cuts from bloated sectors without having to take a single parent, ex-military, epileptic grandma to use her for food for the malnourished children:

 

Instead of using dead seniors for oil berms, we could cut the EPA.

Instead of ...

 

Yeah, you get the point.