Just in case you haven’t yet today scratched your head in amazement at just how ignorant leftists are and how desperately they fail when pressed to defend their lies, this gem should do the trick.
During a recent press conference on the debt ceiling, Barack Obama shamefully preyed on Americans fears and intentionally deceived them by threatening that he could not guarantee that Social Security checks would go out August 3rd if Congress does not cave on his demand to increase the nations debt limit.
By threatening this, Obama unwittingly exposed the leftist deception that Social Security is well-funded by money in the bank, if you will. Hmmm, if there exist this cash rich account or trust fund, as leftists would have Americans believe, then simply pay recipients August 3rd from that account. Of course, they cannot do this because such a cash rich account or trust fund simply does not exist.
Whoops, shouldn’t have let that cat out of the bag, Barack.
The reality: Social Security benefits are paid out every month from currently incoming revenues, not from some well-funded account that simply does not exist. At some point several years down the road, the monthly outflow to recipients will exceed the incoming revenues, but not yet.
Right now, even if Congress truly represents the will of the people and rejects Obama’s demands for more money to burn, this will have zero effect on Obama’s ability to pay out Social Security benefits on August 3rd. Should there be no debt limit increase and if checks are not mailed to recipients on August 3rd, this will only be because Obama has chosen to punish recipients he views as pawns, not because the revenues these benefits are paid out from are not coming in as usual.
As usual, the “news” media miss the boat on this as nearly every other newsworthy issue, but not Don and Roma of WLS 890 AM’s radio program, the “Don Wade and Roma Show”. You can observe on the audio/video below as they lay waste to the hopelessly failed efforts of leftist Congresswoman Jan Schakowsky to defend any of this leftists nonsense.