August Social Security Checks
July 27, 2011 by USA Post
August Social Security Checks, Lawmakers are struggling to ensure that the federal government keeps sending Social Security checks after August 2, when you can stop paying the bills, unless they reach an agreement on lifting the roof of the nation’s debt. A group of conservative Republicans in the Senate and House, including Rep. Steve Southerland of Panama City, were the last to disclose on Tuesday that the law requires the payment of interest on the debt, Social Security and in service active military salaries first.
Sen. Bill Nelson, D-Orlando, has proposed a similar bill July 13. Interest on the debt, Social Security and total on active duty pay and $ 81 million a month. The project administration will take in 172 billion and in August, but is spending over 300 billion and a month. “During the seven months since being sworn in, I have argued that Washington is broken,” said Southerland, a member of the conservative Republican Study Committee. Protecting Social Security checks is not a new idea. Bill Nelson would prevent Social Security payments to be considered against the national debt. This approach allows payments will continue during the clash between the 1996 budget, President Bill Clinton and the Republican House.
“Time is of the essence,” said Nelson. The Treasury Secretary Tim Geithner confirmed in a July 15 letter to Nelson’s strategy would work. “The Treasury’s general counsel, George Madison, revised its bill, and advised me to provide the authority of Special Treasury loan to pay Social Security benefits despite lending authority expires August 2, 2011 “Geithner wrote. Rep. Bill Posey, R-Rockledge, proposed similar legislation July 19 to remove Social Security from the calculations of debt. “The federal government takes in enough Social Security taxes the payroll each month to pay the lion’s share of Social Security benefits,” said Posey.
Nearly 3.8 million beneficiaries in Florida and received Social Security 4.1 billion in December 2010, according to the Social Security Administration.
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Leon County had 33,985 beneficiaries.
Barack Obama President and government officials have repeatedly warned that Social Security checks are at risk without an increase in the debt limit.
“If that happens by default, would not have enough money to pay all our bills – bills that include monthly Social Security checks, veterans benefits and government contracts we signed with thousands of companies,” Obama said on Monday in a nationally televised speech.
The fate of legislation to guarantee the payment of Social Security is uncertain, because legislative leaders are still trying to reach an agreement on the debt limit.
Republicans say Obama is deliberately trying to scare seniors.
“These are the people that the president has tried to scare,” said Rep. Louie Gohmert, R-Texas.
The Republicans refused to say that the financial obligations that the government should or should not meet after paying interest on the debt, Social Security and military salaries.
“There is room for other payments to be made,” said Sen. Pat Toomey, R-Pa. “We do not intend to specify the last dollar, but to specify these programs and to avoid default on its debt.”
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