Boehner Agrees With Obama That Social Security Checks May Not Go Out If The Debt Ceiling Isn’t Raised

From Think Progress: http://thinkprogress.org/economy/2011/07/15/270260/boehner-debt-ceiling-social-security/

By Pat Garofalo

Jul 15, 2011

Earlier this week, President Obama warned that he “cannot guarantee” that Social Security checks will go out on schedule on Aug. 3 if Congress doesn’t raise the debt ceiling by Aug. 2. As a report from the Bipartisan Policy Center laid out, “the government likely would not have enough revenue to pay the full $23 billion payment to Social Security recipients due on Aug. 3″ were the debt ceiling not raised, because of the high amount of Social Security payments that are due that day.

Two days ago, Rep. Michele Bachmann (R-MN) criticized Obama for employing this rhetoric. “We were all shocked and appalled that President Obama dangled out in front of the cameras that senior citizens may not get their checks. That is a very dangerous statement to make,” Bachmann said, calling on the President to “tell the truth.”

Republicans have put forth the theory that Social Security is not subject to debt ceiling limitations because it is financed by payroll taxes. But it seems like Speaker of the House John Boehner (R-OH) agrees with Obama, and not his GOP colleagues, on this one. During an interview last night with Fox News’ Greta Van Susteren, Boehner agreed that if the debt ceiling isn’t raised, Social Security is one of the programs that is on the chopping block:

Continue reading at: http://thinkprogress.org/economy/2011/07/15/270260/boehner-debt-ceiling-social-security/