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Obama cannot guarantee that social security checks will go out on August 3rd

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Obama cannot guarantee that social security checks will go out on August 3rd

Post  AnnaEsse on Wed 13 Jul - 7:25

President Obama on Tuesday said he cannot guarantee that retirees will receive their Social Security checks August 3 if Democrats and Republicans in Washington do not reach an agreement on reducing the deficit in the coming weeks.

"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 Obama administration and many economists have warned of economic catastrophe if the United States does not raise the amount it is legally allowed to borrow by August 2.

Read more here:

http://americac2c.com/profiles/blog/show?id=2456870%3ABlogPost%3A616379&xgs=1&xg_source=msg_share_post

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Re: Obama cannot guarantee that social security checks will go out on August 3rd

Post  Panda on Wed 13 Jul - 9:04

Morning AnnaEsse

The U.S "is in a worse state than China "( another one of my Mother"s sayings )

There is a deadline for this isn"t there, apparently if agreement is not reached by next week to increase the borrowing , they will default on their
existing loans . Cisco Systems are laying off 10,000 workers, the jobless total is higher than expected and the Housing Market is in a slump.

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Re: Obama cannot guarantee that social security checks will go out on August 3rd

Post  AnnaEsse on Wed 13 Jul - 10:10

Panda wrote:Morning AnnaEsse

The U.S "is in a worse state than China "( another one of my Mother"s sayings )

There is a deadline for this isn"t there, apparently if agreement is not reached by next week to increase the borrowing , they will default on their
existing loans . Cisco Systems are laying off 10,000 workers, the jobless total is higher than expected and the Housing Market is in a slump.

Morning Panda. The trends forecaster, Gerald Celente, has been saying that 2011 would be the year that the US economy would collapse. It's in a bad state if it needs to borrow to send out those social security checks.

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Re: Obama cannot guarantee that social security checks will go out on August 3rd

Post  Panda on Wed 13 Jul - 10:30

From what I can gather the U.S. debt stands at $14.3 Trillion and the ceiling for borrowing is not that much more. Obama has made concessions
to the Republican Party but the Republicans say it should not be higher Taxes used to save money, but Welfare Reform etc. and they don"t want any more borrowing. They have been deadlocked on this for about two weeks now , but the latest statistics show a rise in the Jobless, Housing Slump and
increasing debt daily. It was America who introduced "Consumerism " into the World and everyone followed suit. This is the main problem with all
the Countries being so indebted .

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Re: Obama cannot guarantee that social security checks will go out on August 3rd

Post  Badboy on Wed 13 Jul - 11:31

HOPEFULLY WE WON'T HAVE THAT PROBLEM WITH WELFARE IN BRITAIN

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Re: Obama cannot guarantee that social security checks will go out on August 3rd

Post  Panda on Wed 13 Jul - 11:46

Badboy wrote:HOPEFULLY WE WON'T HAVE THAT PROBLEM WITH WELFARE IN BRITAIN

Morning Badboy, there will be cuts in Welfare as in every other Government Dept. If you have a carer, you should be alright. About 3 yrs ago I had an op which should have been routine but the Surgeon managed to perforate part of my bowel and I was quite poorly for a while, but fully recovered now.
For the first time ever, I was assigned a "carer" but when she came the first day the only thing she was allowed to do was a bit of shopping and make
a sandwich for my lunch. I told her not to bother !!!! It depends on what care you have, you should be alright.

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Re: Obama cannot guarantee that social security checks will go out on August 3rd

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