About those Social Security payments…

Obama says he cannot guarantee Social Security checks will go out on August 3

However,
Social Security payments Treasury needs to make on Aug 3. $22b. Treasury cash balance on Aug. 3: $74b,
and
there is a $2.5 trillion surplus in the Social Security Trust Fund .

Over to you, Don,

1. There is no budget.

2. There was no budget last year.

3. Congress last passed a budget in April 2009.

4. It was signed into law by Barack Obama, not George Bush.

5. A Democratic Congress and a Democratic president extended the “Bush tax cuts” for two years (2011 and 2012).

6. There is a $2.5 trillion surplus in the Social Security Trust Fund — more than enough to pay Social Security uninterrupted.

7. The Medicare Trust Fund also is sufficient to continue payments uninterrupted.

8. Tax receipts are enough to adequately service the debt without raising the debt ceiling.

9. This means talk of stopping Social Security checks, not paying Medicare bills and even default are irresponsible.

10. The president does have the power to do those three things — but it his decision, not Congress or the creditors of the United States.

11. The Republican House has passed a budget, which the Democratic Senate rejected.

12. The Democratic Senate unanimously rejected the president’s budget.

13. Congress, not the president, sets the budget.

Just the facts.

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