Why is it August 2nd that the U.S. Treasury says the checks start bouncing?<\/p>\n
Perhaps it is political, perhaps it is real – but the significance of August 2nd is it is the day the U.S. Treasury has to have on deposit the funds to send out the money for Social Security checks – about $50 billion.<\/p>\n
Now you might be thinking – the Social Security trust fund is holding about $2.5 trillion in assets and still has FICA taxes coming in – the reality of Al Gore’s Social Security Lock Box hits the fan.\u00a0\u00a0 The U.S. Government has been funding its operations in part by borrowing the money from the “Trust fund”.\u00a0 There are no dollars in it, only IOUs from the U.S. Treasury.<\/p>\n
You can be sure the AFL-CIO and government employee unions are busy preparing for August 2nd.\u00a0\u00a0 Social Security is more than just old people pensions – it is also Disability (not\u00a0\u00a0funded by a separate tax – it basically has first dibs on the retirement money) and Survivor’s benefits (children of people who die get a check until college)<\/p>\n
President Obama has realized it is a successful strategy to use the U.S. Military as a weapon against Republicans.\u00a0\u00a0 As August 2nd approaches…\u00a0\u00a0 look for disable veterans of wars started by Republicans and the orphaned children and the widows of military veterans to be propped up in front of TV cameras.<\/p>\n
The way “State of Fear” works is that at a point in time like this, the political leaders will threaten to cut off the most necessary services first – look for threats of not paying the military, emptying the Federal prisons, closing airports, shutting ports, turning off the power grid, and killing old people – not ending Pell grants, Title 1 school money, Section 8 housing vouchers, 99 week unemployment checks, food stamps for 44 million people, free school lunches, and the $50 billion we’re spending at the National Institute of Health for God only knows what.<\/p>\n","protected":false},"excerpt":{"rendered":"
Why is it August 2nd that the U.S. Treasury says the checks start bouncing? Perhaps it is political, perhaps it is real – but the significance of August 2nd is it is the day the U.S. Treasury has to have … Continue reading