Your government is giving you two different and opposing answers. They both cannot be true but paradoxically they both could be false.
July 12, 2011 “I cannot guarantee that those checks go out on August 3rd if we haven’t resolved this issue. Because there may simply not be the money in the coffers to do it,” Mr. Obama told CBS Evening News anchor Scott Pelley.
But just two months ago, May 13, 2011 CNN reported Treasury Secretary Timothy Geithner pronounced the Social surety and Medicare trust funds would be solvent for years. Certainly problems loom in the future but the funds have balances securing them in the short term.
Social Security and Medicare — the country’s two biggest entitlement programs — will run dry earlier than expected, according a report Friday from the programs’ trustees.
After the programs’ trust funds are exhausted, Social Security and Medicare will be taking in only enough money to pay a portion of promised benefits to retirees.
Social Security will have sufficient resources to pay 100% of promised benefits through 2036. That’s one year earlier than last year’s forecast because the economic recovery has been slower than expected and seniors are living longer.
Meanwhile, Medicare’s hospital insurance program, otherwise known as Part A, should be able to pay full benefits through 2024, the trustees project.
Treasury Secretary Tim Geithner urged policymakers to take steps to shore up the two programs.
But those cannot both be true. Either the trust funds have the money to go substantially to the projected dates or they do not. The President knows which is true and so do you. There is no money in trust funds (even though there are trustees). They are only an accounting entry. We all know it.
We also know that, as there were funds to make those payments July 13 and 20th, there will be funds to send the August 3rd benefits. So does the President. Like the hockey puck, Timothy Geithner, the President is lying. So, while only one claim could be true, the fact is both claims are knowingly false making both men liars.
We are experiencing the sorriest most dishonest Administration in America’s history. We must change that in the next 15 months.