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Social Security Disability Advice Support Group

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SSD Advice Forums › General & Support › President Threatens Checks
07/12/2011 01:49 PM
President Threatens Checks
cptblack
cptblack  
Posts: 12381
VIP Member
Our estemed President has made a statement that "August Social Security and (Military) Disability checks may not be sent out if this loggerhead about taxes is not broken. There simply will not be the money in the budget for it".

I thought Social Security checks were totally sepperate from taxes except for being collected the same way. And Social Security money was to be kept sepperate and (mostly) untouchable by Congress and the President.

What is going on here?

"Projecting the worst is a prescription for anxiety." Uppity
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07/12/2011 02:39 PM  Top
jmick
jmickPosts: 13883
VIP Member
My understanding is that the money for social security is held in a trust and is paid for years and years in advance. For example, when we had a scare of the government shutting down a few months ago it was made very clear that it would not effect social security checks. Where did you see this statement by Obama?
Kevin
"It's often said that life is strange, oh yes, but compared to what?"

07/12/2011 02:45 PM  Top
ERVARGASNY
Posts: 183
Member
There soon going to create american terrorist if the keep screwing with people, we worked for it. And now they want to steal it and vlaim its not there? When did they stop taking it out of peoples checks? Its the only way they can stio payment if there not collecting it? And then mail is back all the money we put into it, are the checks in the mail? I don't think so.

07/12/2011 04:18 PM  Top
cptblack
cptblack  
Posts: 12381
VIP Member
I saw it on Yahoo! News. I quoted it as closely as I could remember.
"Projecting the worst is a prescription for anxiety." Uppity

07/12/2011 04:21 PM  Top
gdevinney
Social Security is expected to remain filly funded through 2037, but the money in the "trust fund" is secured by US Treasury Bonds. The current refusal of the congress to approve an increase in the Federal Debt ceiling puts SS payment at risk because meas the US could default on it's loans.

The government cannot function without the ability to borrow.

07/12/2011 06:28 PM  Top
sleepwalking
sleepwalking  
Posts: 654
Member
I just watched Obama do an interview for the evening news and he said that the August SS checks may not go out because Republicans & Dems cannot agree. What else is new?

This I believe to be a scare tactic to get Republicans in line. If they didn't send out the August checks than many people would die from not getting their meds and lose their homes. There is no way they are going to let that happen. They would have a revolution of the people. But they will certainly keep us on edge until the very last minute.

07/12/2011 06:46 PM  Top
sunnydays
sunnydays  
Posts: 638
Member
I also saw this on CNN,55 million people would be effected if this happened. And I am one of them.

Previous discussions I participated in:
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Alcoholic in recovery with fibro
ssdi

07/12/2011 07:23 PM  Top
cptblack
cptblack  
Posts: 12381
VIP Member
This would make the difference between 'Dogfood" and "Dog? FOOD!" a lot less distinct in my house.
"Projecting the worst is a prescription for anxiety." Uppity

07/13/2011 03:49 AM  Top
Monica1966
Monica1966  
Posts: 111
Member
This is very scary. I just now got approved for SSD. I haven't even recieved my first payment and now what I have fought for for years now may not even come? It's hard to wrap my mind around how many people will be homeless and without food if this happens. I can't even let my brain think about it.

07/13/2011 05:54 AM  Top
barelymanic
barelymanic  
Posts: 3229
Senior Member
All right all of you, you have been duped. There is no trust fund or lock box from what I have heard. The money was spent as it came in, placed in the general funds and spent. So now that the baby boomers have started retiring they are freaking out. Never heard any thing about the money being in bonds.
My main leadership role is to listen, encourage, and keep the peace....It isn't to give medical or legal advice...Please note...I am not a Doctor...nor an expert...I am here for the same reason all of you are...to receive and give encouragement.

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