(Mike Chamberlain/The Cranky Hermit) – Well, sort of.
Echoing President Barack Obama’s warning, Senate Majority Leader Harry Reid says Social Security payments would stop if there is no deal to raise the government’s borrowing limit by Aug. 2.
So much for the “guarantee” from doing nothing. If the money were their own, rather than the government’s, beneficiaries wouldn’t have to worry about the government not sending checks.
Whatever happened to the Trust Fund? The way Reid has explained it in the past, there is about $2.5 trillion in cash in that Fund that could be used to pay SS benefits. Just use the cash in the Trust Fund and we should be fine.
Or could it be that the Trust Fund isn’t what Sen. Reid has been claiming it is all along? Could it be that there is no “guarantee” associated with Social Security and the benefits and payments are subject to being altered, denied, cut and withheld at the whim of Congress? Could it be that demagogues in Washington and elsewhere have been selling a lie for political purposes?