Just asking a question
If we don’t raise the debt ceiling by August 2nd, and Obama doesn’t send out those Social Security checks, can we also count on him canceling his trip to Martha’s Vinyard? Certainly, if Grammy doesn’t get her check, how can he – in good conscious – spend money on the security, staffing accommodations, etc, required for a
Presidential Royal vacation? Karl Rove on Obama’s special manner of transcending petty politics and legislative gridlock:
On Tuesday, Mr. Obama told Scott Pelley of CBS News that “there may simply not be the money in the coffers” to issue Social Security, veterans and disability checks after Aug. 3.
Not so. The $172 billion in revenues collected over the rest of the month can pay the $29 billion interest charges on the national debt, Social Security benefits ($49 billion), Medicaid and Medicare ($50 billion), active duty military pay ($2.9 billion), Department of Defense vendors ($31.7 billion), IRS refunds ($3.9 billion), and about a quarter of the $12.8 billion in unemployment checks due that month.
Obama could hold up payment for other things instead. But he’s making a political point here. Because he isn’t different, he’s a politician like many who came before.
The president wants a $2.4 trillion debt-ceiling increase to get him past next year’s election—and the deal he’s proposing is based on promised future cuts paired with substantial tax increases on households earning more than $250,000 a year.
No deal. Walk away.
Oh, and this. Obama is a liar.
Social Security’s Actuary confirms that withholding Social Security checks would be a political decision. As for the money, well, here you go. Bottom line: interest on the debt is about 15% of the revenue taken in; we can pay the interest on the debt, Social Security, active military and veterans’ affairs, Medicare and Medicaid, Federal Law Enforcement, border security, the CIA, and on and on — and still have money left over.
Of course, No Drama Obama isn’t as cool in a crises as the media portrayed him on the campaign trail.
He shoved back and said ‘I’ll see you tomorrow’ and walked out,” House Majority Leader Eric Cantor (R-Va.) told reporters in the Capitol after the meeting.
Of course, that’s not how the democrats say it went down:
“Cantor’s account of tonight’s meeting is completely overblown. For someone who knows how to walk out of a meeting, you’d think he’d know it when he saw it,” a Democratic aide said. “Cantor rudely interrupted the president three times to advocate for short-term debt ceiling increases while the president was wrapping the meeting. This is just more juvenile behavior from him and Boehner needs to rein him in, and let the grown-ups get to work.”
I get a big kick out of the continued effort to present Obama as the only grown-up in Washington. Anyone buying it?