Congress Out: Obama Needs $1.2T – $82B for Interest, SS

While most in Congress are basking in the maninimity of extending the payroll tax cut, Social Security and other benefits still have to be paid while no longer being funded. Today Obama needs $1.2 Trillion to pay our bills. Congress is on vaca, but the White House must RAISE THE DEBT LIMIT by $1.2 Trillion. What? They didn’t know this before evacuating D.C.? Here’s a question I hope someone can answer for me: Why have we cut Social Security funding to put money in the pockets of We the People, which must be paid back from the pockets of We the People,  and not some true tax cut, or better yet, some spending program that does not need reimbursing? Just asking. Hope you have an answer.

Under the agreement struck in August during the showdown over the government’s debt limit, the cap is automatically raised unless Congress votes to block the debt-ceiling extension. Lawmakers have 15 days within receiving the request to vote, which is largely symbolic because the president can veto it and Congress would be unlikely to muster the two-thirds majority to override it. Moreover, the U.S. House of Representatives also is in recess until January 17. Source

I recommend an article by RightHandMan at SENTRY Journal. He explains the payroll tax cut scam in depth. We Americans seem to love being scammed.

Posted by Maggie @ Maggie’s Notebook

 

  • He will get it, and in a few months he will get another $1 Trillion. Every time he wants money, he is handed it.

    • findalis, all the haggling over the debt ceiling was just another joke on the American taxpayer.

  • Thanks for the plug Maggie.

    • RightHandMan, you are most welcome!