Barack Obama’s war on America’s seniors knows no limits. The Treasury Department is withholding part of the Social Security monthly payments of about 115,000 seniors because they have fallen behind on student loan payments. There was a time when Social Security benefit payments were untouchable, but that is a thing of the past.
Obama’s War on Seniors is growing at such a rate that the number of affected seniors has almost doubled in just the last year. These size of the payments being withheld are not insignificant. Depending on the circumstances, some run up to as high as 15%. With the average retiree’s benefit payment at about $1,234, the monthly bite could be nearly $190.00. What’s worse is that many seniors don’t realize that they are still liable for their student loan payments, even though they have been pushed out of the working mainstream by Barack Obama’s fiscal policies.
Thanks to younger relatives, often grandchilderen, who are out of work and unable to repay these loans (for the same reasons their elders are either retired or working as Walmart greeters), people who never set foot in a college classroom are having to suffer these reductions in their small Social Security benefits.
A New Jersey attorney reports that he has represented six clients in the last two years who have fallen into this repayment trap because they co-signed a student loan application for a grandchild. Still, others have gotten into trouble because, in an attempt to improve a personal resume, they took out a student loan for Graduate school degrees that ultimately came to naught.
Most seniors in this trap are embarrassed to speak about their predicament, but one Boston attorney tells of working with an 83 year old veteran who co-signed to cover the tuition of his son in the 1990s, only to find that because both of them have fallen behind on the required payments, he is now obligated to make payments on the loan. HE is now seeing the federal government forcibly taking some of his monthly Social Security check.
Paying what we owe is an import feature of the American character, and certainly, it is a cherished part of the personal sense of being for older Americans. Barack Obama’s failures are driving more and more seniors to buy their dignity back each month at a high price. This is Barack Obama’s war on seniors.
Photo credit: Dan Jacobs (Creative Commons)
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