Obama says he cannot guarantee Social Security checks will go out on August 3

President Obama on Tuesday said he cannot guarantee that retirees will receive their Social Security checks on 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.

Read more: http://www.cbsnews.com/8301-503544_162-20078789-503544.html

:hi:

Edit to add: link is from 7/12-old news, but :hi: again.

I would have preferred an answer more along the lines of, "That's up to them," meaning Republicans need to cut the crap and get a bill on his desk.

Or, if putting Republicans on the spot that way would be unhelpful, refer to the negotiators overall.

I think it would have kept him from become a lightning-rod for claims that "Obama is stopping the checks."

My check is deposited 2nd Wed each month. Husband's the 4th Wed. I think it was set up according to our respective birthdays. We're hoping we will get his check Jul 27. Mine is due Aug 10. Not so sure about that one.

while some people have hyperventilated over this being some sort of threat, it's simply some fine rhetoric to wake people up.

The fact is that there might not be enough cash in the till to cover all of August's checks if they can't borrow to cover them, but that's not up to Obama.

My mother, age 93 and a stroke survivor, is a nervous wreck with worry that she won't be able to pay her bills next month. This on top of trying to figure out how to continue fighting an unjust lawsuit filed against her for huge hospital charges she had insurance for and should not owe.

We shouldn't be treating our frail, very aged seniors like this. Stress and worry takes a toll on anyone, but it's even worse on very elderly people with health problems.