So, yet again we hear, even on Fox News Radio half hour clips, that we risk default, and that Social Security Payments are at risk.
Yes, we borrow 40% of what we pay out, but that's because we pay out too much! Two points: if the debt ceiling will affect SS and Medicare payments, then we MUST be using borrowed money to write those checks, right? So much for the old Lockbox argument. If we are borrowing to pay those, how screwed up is the Federal Budget? Second, El Presidente said (to Scott Pelley, airs tonight) that we send out 70 million checks....WTF? with the estimated population at 311,749,302 it amazes me that so many people are receiving Government Support. Fun fact, that's roughly equivalent to every Obama voter...(69,499,428)
We won't default. we can pay the debt service and make our entitlement payments. We HAVE to cut spending. Either we do it now, make arrangements to cover obligations and avoid foreclosure, or we wait and then get foreclosed upon.
That's our choice, America.
Know that whenever anyone says "we may not be able to send out those Social Security checks" or "the US may default on it's loans" that person is lying or stupid.
I like this from the Washington Examiner, more specific, and with numbers!