There are a few possible upsides to Obama’s threat that Social Security checks won’t go out if Congress doesn’t increase the debt ceiling.
1. The President’s Remarks Prove Social Security Trust Fund is a Hoax on the Public — As I noted in my piece about how Social Security is basically a Ponzi Scheme, there is no “trust fund.” There never has been a trust fund. They have always spent all the excess Social Security money on other projects. Yet I’ll bet if you surveyed the average voter — and especially the average Social Security recipient — they’d claim otherwise.
But if there is a trust fund, how could the budget debate have any impact on Social Security payments, especially short term ones? Hmmmm . . . maybe there isn’t a trust fund after all!
2. If our country’s financial status is so precarious — and it is — then perhaps the Left should be taking the whole “spend less / borrow less” themes more seriously. Obama’s threat that we’re that low on funds is more proof that we need to do something significant about our finances.
3. Hopefully the independent voters will realize what a pathetic scare tactic it is and be further turned off by Obama.