American Morning
Question of the Day: What's the impact if the government doesn't have the money to send out benefit checks August 3rd?
27 million Social Security checks are due to be mailed on August 3rd, the day after the U.S. government will default on its debts if Democrats and Republicans do not agree to increase the nation's borrowing limit.
However, President Obama warned yesterday that, absent a deal, he can't guarantee that older Americans will receive their Social Security checks next month.
"There may simply not be the money in the coffers to do it," Obama said in a CBS News interview last night.
American Morning wants to know: What's the impact of Social Security checks not going out on Aug 3rd?
Post your response here. Your answer could be included in this morning's broadcast.
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We all may be up the creek ,but I believe it is going to be Tea Party Time.No taxation without representation.
I hope President Obama stands his ground. The United States of America does not deal with terrorists. Yes we need to fix things, but part of the fix is raising taxes on everyone including those that are well off. Like a successful marriage, this Country will only succeed if both parties give a little. And that doesn't mean taking it out on the working class by making us retire as old people (especially those that do physical labor).
I think that it is unfair for people who worked all their lives to suffer. They believed in the American system and paided into it. I think that the president, senaters and congressmen should not be paid. They should loose their pension benefits and not be allowed to run again for any public office. If I did not get along with my co-workers and could not get the my job done I would be fired. The government is singing the same song, save the rich by hurting the regular people. It never trickles down. We need to speek out by firing all of them at the voting booth.
If Social Security payments get cut off in August, there will be the largest turnover of politicians Washington has ever seen. Period.
I think the most important result will be the country's general Zeitgeist of not being able to count on the federal gov't as the safety net it was designed to be.
My husband and I both depend on our ss checks every month to pay our bills.What kind of game are the Republicans playing? They don't seem to care about anything but the big oil companies and the rich..It doesn't bpther them that my husband and I could end up on the streets..
Why doesn't the president hold back the paychecks of the house and senate and himself instead of poor people living on hardly any money they get from Social Security. You'd see them working harder if they had no paychecks coming in. They don't even need those paychecks,. They are all rich enough.I'm tired of this government penalizing its people to make up for the rich ones who get away with out paying due to convienent loop holes and companies that make millions of dollars profits each year and not having to pay taxes. There wouldn't be a deficit if these practices were stopped. Also does the president and people running for office have to pay taxes on the money they raise for their campaings? They should its income isn't it. It is very frustrating listening to the news everyday.
As someone who is permanently disabled(on dialysis for 9 years after a rejected kidney transplant, 2 seperate high-risk vertebral surgeries & permanent nerve damage) and not even "scraping-by" on the $1248.00 I get each month, not recieving this money on August 3rd will further ruin my credit from past-due bills I owe money on that keep accruing interest, and now add additional late & non-payment fees on top of that! If these social security & disability checks DON'T go out on August 3rd, mark my words, this country is going to see a RECORD-SETTING DRASTIC increase in bankruptcies filed that will total far more than what the politicians are currently squabling about the government being in danger of defaulting on.
no jobs,food,or money. how can we better govern ourselves?
I'm on SSI disability, and live on $678 a month. If that check doesn't arrive, I'm screwed.
Has anyone else thought about the lunacy of messing with SS while we give billions of dollars away to the middle east and other countries all over the world. Why are they threatening Americans while giving our money away. Insane!
i am on disability.i would not be able to pay my rent,and i would be evicted. this would make me homeless and unable to get a job,ect...ect...
If Obama makes good on this threat, he's inviting the next Civil War. That's MY MONEY, not the government's and I expect it to be paid on time, just like I had to pay into it when I was employed.
Ample money is available, but would have to be prioritized, So SS checks being delay would be a conscience decision by the President and a very political one at that! This is leadership?
Politics at its best! I am sick of the lies. Did they run out of ink?
Someone is not doing some critical thinking here. If checks do not go out, it ends that part of the economy. More than 20% of the population receives disability payments alone. Stopping these payments will stop the economy for all. It seems the republicans are trying to hold Obama's hand to the fire about increasing the debt ceiling. He needs to be honest with the American people and let them know this. It's making him look bad.
What this means is a collapse of our economic system due to the cascading effect of stupidity. The people that get SS checks also feed the economy. To believe that 20 billion dollars worth of people not getting their checks isn't going to do any harm is not only ludicrous but stupid... I'm moving to Denmark
guess a lot of people would not have away to pay bills or get there meds/ food/ light/gas
think thay should out poor people in to run the country
rich are for rich and dont care about the poor
thank you
You are right Jerry,I get 833 monthly I barely have enough to pay my bills every month,my bank drafts all my bills out of my account every month,so if I don't get my check on August 3rd I will have a lot of fees to pay !!
I'll tell you the impact...Obama better pack his bags...as a matter of fact he should pack them anyway!
I think it is a disgrace that our officials are so rigid and won't deal with this mess. We, the people, have to pay our bills and we can't just default when/if we like it. There are some tough decisions that have to be made. Man up and make them! The rich should be taxed more. Everyone is going to have to take a hit over this mess. But don't tell us that only the rich are exempt from paying their fair share! Otherwise, Republicans, don't bother running for election. GOT IT???
I will definetely NOT vote GOP in 2012. They are too harmful to this country.
President Obama being re-elected in 2012; the American people do not support tax breaks for the wealthy at the cost of the middle class.