House Speaker John Boehner expressed doubts that President Obama's remarks on Social Security checks not going out on August 3rd would become a reality. In an interview with Fox News, Mr. Boehner said:
I don't know what to believe... The treasury secretary is going to have options in terms of who should be paid and who shouldn't... But there's going to be money available on Aug. 3, and I think it's way too early to be making some types of veiled threats like that.
Earlier today, the president told CBS News that the impasse on raising the debt limit could jeopardize Social Security checks. Yet again, it seems that the Democratic scare tactics are being called upon to stir emotions. The nation looks to the president for leadership and guidanceÂ—not to promote fear and despair.
For his part, Boehner expressed anger and frustration, "The debt limit is his problem. The president talks a good game, but when it comes time to actually putting these issues on the table, making decisions, he can't quite pull the trigger." While it is easy to cast blameÂ—no, Mr. Speaker, this problem belongs to all of us.
Both sides recognize the danger of not extending the debt limit. Social Security checks will continue to be sent to recipients without interruption. Senate Minority Leader Mitch McConnell, R-KY, has announced one version of a "backup plan" which would authorize $2.5 trillion in three installments.
The debate and discussions will continue in the days ahead. Clearly, there is a long way to go, and both sides need to focus on rational endpoints. Current spending levels are unsustainable, so, cut spending. Start there. If revenue continues to be an issue, then raise taxes. With the US economy in such a fragile state, perhaps it's time to cut regulations and start to promote domestic growth. Social Security checks must be mailedÂ—there is no debate on that. Stay tuned...
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