Obama stirs up the fear, telling CBS News that social security, disability, and veterans benefits checks may not get mailed:
"I cannot guarantee that those checks go out on August 3rd if we haven't resolved this issue. Because there may simply not be the money in the coffers to do it," Mr. Obama said in an interview with CBS Evening News anchor Scott Pelley, according to excerpts released by CBS News.The interview will air tonight. If this is true, wouldn't it be sensible to ask the president why he and the majority he enjoyed for most of his term let things progress to this point? Just kidding. The liberal media wouldn't dream of such impertinence.
Mr. Obama told Pelley "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 million checks that go out."
But James Pethokoukis disputes the empty coffer claim:
As is clearly shown, there is enough cumulative money coming to pay interest, SS, Medicare and defense. Not that there wouldn’t be cash managements issues.Read the rest and see the chart. Michele Bachmann agrees.
Read about Mitch McConnell's scheme here. Via the Corner, a reaction scorecard:
Pro: Fred Barnes, Jennifer Rubin, John Podhoretz, Grover Norquist, Allahpundit
Con: Michelle Malkin, Erick Erickson, Heritage Action For America, Newt Gingrich, Philip Klein, Brent Bozell
In any case: Why is facing the consequences of government profligacy not an option?***
Why is putting an end to government spending without end not an option?
Politicians seeking to “reassure markets” and protect defaulters gave us TARP and AIG and Fannie Mae bailouts.
When is enough enough?
Whatever you think of McConnell's contingency scheme, this speech is worth watching:
Linked at MichelleMalkin.com -- thank you.
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