President Obama said yesterday, "I cannot guarantee that [Social Security] checks go out on August 3rd, if we haven't resolved this [debt ceiling] issue. Because there may simply not be the money in the coffers to do it."
We've been told by Democrats and liberal economists that the Social Security Trust Fund exists.
The official Social Security Administration website claims, "By law, income to the trust funds must be invested, on a daily basis, in securities guaranteed as to both principal and interest by the Federal government," and, "Far from being 'worthless IOUs,' the investments held by the trust funds are backed by the full faith and credit of the U. S. Government."
Let's ignore, for the moment, the president's many options, such as cutting payments to his cronies and government bureaucrats. Instead of starving grandma, why doesn't President Obama just tap into the Social Security Trust Fund like he recently tapped into the oil reserves?
You mean to tell me, the Social Security Trust Fund doesn't really exist? I'm shocked!