Social Security Checks ARE guaranteed! (Obama, how much, insurance, money)

[Recovering Democrat]

The folks who insist that Social Security is solvent will tell you we only have to dip into the "Trust Fund" to make monthly SS benefit payments.

Was Obama lying when he said SS checks are NOT guaranteed? "Because there isn't enough cash in the coffers."

Or, was he telling the truth and the "Trust Fund" is empty?

[pommysmommy]

I think he let it out inadvertently. The checks are not guaranteed.

[justus978]

Originally Posted by pommysmommy

I think he let it out inadvertently. The checks are not guaranteed.

...nah, he knew exactly what he was saying...just scaring the old folks...

[SilverOne]

Social Security is NOT At Risk On Debt Ceiling in [Market-Ticker]

Karl Denninger takes is step by step and shows how Social Secruity is ok

[subsound]

I think you need to realize the difference between cash on hand and accounts payable. Take an accounting class for gods sake.

[Chango]

NOTHING IS GUARANTEED...especially checks being written by an essentially insolvent federal government; one you can accurately assume is lying every time a government official opens their mouth in front of a camera.

If your very survival depends on a monthly check from Uncle Sam, you have 'effed up royally in your life. Such dependence is the height of stupidity. Sorry, but there is no nice way to say it.

[DRob4JC]

From the trustee report, the assets of the combined OASDI Trust Funds increased by $69 billion in 2010 to a total of $2.6 trillion. (Old-Age and Survivors Insurance, and Disability Insurance - OASDI)

So there is money in the account to make SS payments. If these benefits are not paid, it is by choice and not because of lack of funds.

Maybe this is why Obama felt comfortable cutting SS income taxes by 2% back in December - because he new they were bringing in more than they spent. And now he's saying there's no guarantee people will get paid. This is why SS should be privatized or people should handle these things on their own as much as possible - so that people's well being can not be used as a political tool.

Press release

Trustee Report

[florida.bob]

Originally Posted by Recovering Democrat

The folks who insist that Social Security is solvent will tell you we only have to dip into the "Trust Fund" to make monthly SS benefit payments.

Was Obama lying when he said SS checks are NOT guaranteed? "Because there isn't enough cash in the coffers."

Or, was he telling the truth and the "Trust Fund" is empty?

All legitimate debts are guaranteed by the Constitution.

[D. Scott]

People will get the checks...It's crazy how much strife the country is in. for America to be in this much dire straits for this to even be entertained is bad in itself.

[tropolis]

aint it funny that the same old people saying cut entitlements are whining and moaning about not getting there own entitlement.

its the as long as they arnt taking mine, its fine mindset.