The threat President Obama made by stating he “could not guarantee payment” to those who are currently receiving Social Security checks was the most vicious ignoble utterance I have ever heard from an American president. Economic terrorism has been a tool the Democrats and Republicans have used for generations, but Obama is demonstrating to the American people just how far he will go to terrorize the public and place blame on the Republicans, and in the meanwhile, scare retiree’s, Veterans and millions of people on disability.
Coercion of this sort from Obama trying to hold Republicans responsible for the debt ceiling possibly not being raised, is disingenuous at best, and trying to put the most vulnerable out on the streets and in harms way — for that, President Barack Obama is not worthy to continue holding office.
This kind of pompous behavior to stoop so low as to use grandma and people with disabilities as his political weapons, is a travesty that almost crosses the line of criminality. My thoughts about Obama previous to this grand standing of deceit was one of respect and admiration how he seemingly was trying to stop playing the “political game,” that he’s spoken of in Washington so many times.
I guess I shouldn’t be surprised; he’s a politician, and one from the great state of Illinois, where they turn out political felons at the drop of every election — he has added himself to that list. To make matter worse, he has misled the American public into believing that there will be “no money left in the coffers.” This is absolutely false! It’s either a blatant lie, or Obama’s understanding of how the Treasury Department deals with a crisis of this nature, is seriously off kilter from the point of a person who should know exactly how monies are delegated through the US Treasury Department.
The only event that will occur on August 3rd if there is no increase in the debt ceilingis the premature launch of QE3 to cover payments. QE3 stands for Quantitative Easing (round) 3. Meaning, the Federal Reserve can stimulate the economy using any number of tools. Quantitative easing is just one of them.
Social Security has had safeguards for many years, which are still now in place. Those who are receiving Social Security, have paid into it from the taxes when they were working, not only do the payroll tax receipts go into the Social Security Trust Fund, those receipts must be invested in US Government bonds.
The Social Security Trust Fund holds about $2.5 Trillion worth of US government bonds. When those bonds are needed, they are redeemed to cover the monies for 70+ million Social Security checks that go out every single month, and will be issued by the US Treasury. The money owed which is under the debt ceiling will automatically go down.
In the event of a situation like this, the Treasury will redeem those bonds in the amount necessary to cover the Social Security monies necessary to pay everyone who is receiving benefits.
Obama didn’t take the time to pause and consider that he and his economic advisors have crossed a “Compassionate Gap” into the Land of personal ambition. When this kind of behavior from a president strikes fear, and rather than assuring our nation and its most vulnerable that they won’t be tossed aside without regard for their livelihood, all for the sake of a political agenda, it speaks volumes of that president’s character.
To bail out Wall Street, which partly put us in this economic turmoil, and to continue to spend $16 billion a month in the Middle East, and then have a President of The United States use his constituents and American citizens as political puppets to coerce the republican party into raising the debt ceiling with his threats, is tyranny at its most unfathomable state of impropriety.
For that in my opinion, not only did Mr. Obama not have the foresight to see that what he said, may have lost the 70 million plus votes in his next election from those who are on Social Security, Veterans and many others who rely on Social Security monies, he has lost all credibility as a ethical and just politician in the eye of every American who is smart enough to see how transparent his political tactics were, and by doing such, has potentially reduced his expectancy in office to only one term.
If he’s lucky, he won’t find himself facing impeachment from lying to millions of Americans, and coercing the United States Senate.