U.S. Has Enough Revenue To Send Out Social Security Checks Despite Obama’s Claim
The Washington Examiner: President Obama told CBS News today that he “cannot guarantee that those
[Social Security] 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.”
But wait just a minute. If Washington receives about $200 billion in monthly revenues and sends out roughly $50 billion worth of Social Security checks and the same amount of Medicare payments, why is Obama claiming the checks may not go out?
Isn’t $200 billion minus $100 billion still $100 billion?