Legal Experts: Obama Social Security Hysteria is a Lie

Ben Johnson, The White House Watch

The scare and intimidation tactics the president has employed during the debt ceiling debate have grown so outrageous that two experts on the Social Security system are imploring Barack Obama, “Mr. President, please stop needlessly scaring the millions who rely on Social Security benefits.”

Obama warned in his nationally televised speech on Monday night that if Congress does not vote to raise the debt ceiling by August 2, “we would not have enough money to pay all of our bills -– bills that include monthly Social Security checks, veterans’ benefits, and the government contracts we’ve signed with thousands of businesses. ”

Social Security historian Nancy Altman and Pepperine Law School professor Mark Scarberry have noted that, in fact, no such threat exists. They write that, while it is true “employer and employee contributions are less than the cost of all benefits plus all administrative costs,” those contributions “are just one source of Social Security revenue.” Another source is investments backed by the “full faith and credit of the United States,” which the president and Treasury Secretary Timothy Geithner can….

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Comments

  1. Wondering Woman says:

    Foregone conclusion! If his mouth is moving, he's lying again!

    • RacerJim says:

      The entire life story the person known as Barack Hussein Obama II/Jr has told has been a lie.

    • Ther are good white people and then there is white trash. Reid and Piglosy comes to mind. There are good brown people and then there are brown illegal trash. There are good black people and then there are black trash. Lazy with their hand out. Obama is black garbage and should have had his lying ass thrown out with the rest of the White House garbage a long time ago. VN Vet

  2. SEAN MURRY says:

    He is a lying POF.

  3. Dr. Sanford Aranoff says:

    Shame on wsj for such a stupid article! Silly foolish comments! We have a debt problem. Obama never offered anything in writing. Boehner is such a silly man! If we have a $14 T debt problem, the only solution is to reduce the debt limit, not raise it!! Don't these foolish professors understand numbers? We do not have the money, and so we must reduce the debt limit. This will force government agencies to close, and force government workers to become unemployed. Instead of cutting Social Security, which Obama cannot legally do, close the Dept. of Ed and several others. Don't play games with our defense! No money to fight in Libya! We have to mock and ridicule our leaders on both sides. We have to mock and ridicule editorial writers in the wsj and NY Times. Make jokes. Let us know that nothing they say is serious. We have to fight, and fight hard, for our very survival against evil people like the Dems and many Reps. We must start yelling it is Obama's fault! We have to call in our newspapers and TV stations making fun of their silly things.

    A few years ago I was teaching my college math students the nonsense behind the CRA (Dodd and Frank) saying it is mathematically nonsense. Yet people are not laughing at Frank as they should to get this foolish guy kicked out.

    Laughter is the best medicine. We need a lot of it. We need it now!

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