The Black Vault

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.

Lawmakers from both parties want to use the threat of that deadline to work out a broader package on long-term deficit reduction, with Republicans looking to cut trillions of dollars in federal spending, while Democrats are pushing for a more "balanced approach," which would include both spending cuts and increased revenue through taxes.

The Debt Limit fight: A primer

Democratic and Republican lawmakers are expected to hold another round of negotiations with Mr. Obama at the White House Tuesday afternoon on long-term deficit reduction, though talks have yielded little results to date.

Mr. Obama told Pelley "this is not just a matter of Social Security checks. These are veterans checks, these are folks on disability and their checks. There are about 70 million checks that go out."

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But they do have trillions for war

Democratic scare tactics to use those on social security (me) to scare into thinking we will not get our checks. First it is a misconception everyone get their checks on the 3rd. Everyone has a differnt date within the month. California does the same thing with budgets and threatening IOU's to all state employees when our physical year begins.

lIke Clint Eastwood says, and he also is SS age, "Go ahead, make my day". Hold back any SS checks and he will not have a prayer of reelection. He is going to bail out all these banks, and auto giants, but he is going to withhold sending out SS to the old people???? I don't think so!

Reagan learned the hard way in 1981 what happens when you even mess with SSI even in the slightest

Thye've ALL lost the senior vote!!
Thye need to kiss azz to that demographic, as most actual voters are older.