On the recordJuly 13, 2011
3 months ago, 276 experts on Social Security, the Federal budget or the economy wrote to President Obama ``to correct a commonly held misconception that Social Security somehow contributes to the Federal Government's deficit.'' Despite the fact that Social Security has a $2.6 trillion surplus and can pay 100 percent of its benefits through 2037 without any cuts or tax increases, President Obama declared yesterday that Social Security checks may not go out after August 2, presumably unless there is a deal on the Federal deficit, which has nothing to do with Social Security. According to today's Washington Post, 15 years ago, Congress passed laws which stated Social Security did not count against the debt limit and gave Treasury clear authority to use Social Security trust funds to pay benefits and administration expenses in the event a debt ceiling is reached. A fake Social Security crisis will do nothing to solve a real debt crisis, will undermine the public's faith in government, and will create unnecessary anxiety among our elderly. Stop playing political games with Social Security. ____________________
