August 3: Day of Reckoning

By:  Bob Adelmann
07/15/2011
       
August 3: Day of Reckoning

On Tuesday evening, President Obama was being interviewed by Scott Pelley, who asked the President whether he could guarantee that Americans would get their Social Security checks if the debt ceiling weren't raised:

Can you tell the folks at home that, no matter what happens, the[ir] Social Security checks are going to go out on August the 3rd?

Obama:
  Well, this is not just a matter of Social Security checks. These are folks on disability and their checks. There are about 70 million checks that go out each month.

Pelley: Can you guarantee, as president, that those checks will go out on August the 3rd?

Obama: I cannot guarantee that those checks go out on August 3rd if we haven’t resolved the [debt] issue, because there may simply not be the money in the coffers to do it.

On Tuesday evening, President Obama was being interviewed by Scott Pelley, who asked the President whether he could guarantee that Americans would get their Social Security checks if the debt ceiling weren't raised:

Pelley: Can you tell the folks at home that, no matter what happens, the[ir] Social Security checks are going to go out on August the 3rd?

Obama:  Well, this is not just a matter of Social Security checks. These are folks on disability and their checks. There are about 70 million checks that go out each month.

Pelley: Can you guarantee, as president, that those checks will go out on August the 3rd?

Obama: I cannot guarantee that those checks go out on August 3rd if we haven’t resolved the [debt] issue, because there may simply not be the money in the coffers to do it.

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