“We’re going to make sure that social security is solvent today-is solvent tomorrow-and solvent forever,” then- Senator Barack Obama told a crowd in Wisconsin in 2008 when he was on the campaign trail to become president. He then added, “We’re going to stop raiding the social security fund and we will not privatize social security.”
Yet only three years later and only a number of days ago, President Obama told CBS News he cannot guarantee that Social Security checks would be mailed out after August 2 if the debt ceiling issue is not resolved before then.
“Well this is not just a matter of social security checks. These are veterans’ checks. These are folks on disability and their checks. There are about 70 billion checks that go out,” he told CBS Evening News host Scott Pelley.”I cannot guarantee that those checks go out on August 3rd if we haven’t resolved this issue, because there may simply not be money in the coffers to do it.”
The so called social security trust fund, that Mr. Obama talked about in his 2008 speech is not even mentioned today as an option to pay social security benefits, should the federal government default after August 2 debt ceiling deadline passes.
Apparently the Democrats painted themselves into a corner as a result of their own scare tactics. Democrats told Americans that if Republicans “raided” this mythical social security trust fund and used it to privatize social security, seniors would not see their social security checks.
Now, Democrats have to explain whatever happened to the social security trust fund that the Republicans never raided to privatize social security and why President Obama is telling seniors they may not see their social security checks after August 2. A true conundrum indeed.