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Social Security Warns Benefits Could Get Cut
The Wall Street Journal ^ | 8 Oct 13 | Damian Paletta@damianpaletta

Posted on 10/08/2013 6:49:13 AM PDT by SkyPilot

The Social Security Administration has begun warning the public it cannot guarantee full benefit payments if the debt ceiling isn’t increased.

When asked by the public, the agency is notifying beneficiaries that “Unlike a federal shutdown which has no impact on the payment of Social Security benefits, failure to raise the debt ceiling puts Social Security benefits at risk,” according to a person familiar with the agency directive.

The warning was assembled after the agency consulted with the Treasury Department, which would play a lead role in determining how the government handles payments if the borrowing limit isn’t raised soon.

“Our employees started receiving questions from the public, so the agency worked with Treasury to provide an answer they could use when asked about the debt ceiling by the public,” a Social Security Administration spokesman...

(Excerpt) Read more at blogs.wsj.com ...


TOPICS: Front Page News; Government; News/Current Events
KEYWORDS: budget; debtceiling; entitlements; rem308grassyknoll; socialsecurity
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I predicted weeks ago Obama would threaten Social Security recipients, because he did the exact same thing in July of 2011.

However, those getting SS have every reason to be concerned.

If the debt ceiling is not increased, Congress cannot enforce prioritzation payments.

Even though Sen Paul (R-KY) is saying that the Senate has passed language calling for debt interest payments, Medicare, and Social Security to paid first, the Treasury could delay or withhold (in whole or in part) entitlement checks.

The adminstration can redeem bonds in the Social Security "Trust Fund" so the Federal government can borrow more money to pay Social Security checks without increasing the debt ceiling, but there is no law that says they have to.

It may be political suicide to do so, but if the Administration thinks it could gain by poisoning the well, they could.

The courts would uphold that decision as well, since the Supreme Court ruled in the Flemming v. Nestor (1960) decision that Social Security is not a contractual right.


1 posted on 10/08/2013 6:49:13 AM PDT by SkyPilot
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To: SkyPilot
Cry me a river. Life is tough all over.

/johnny

2 posted on 10/08/2013 6:51:35 AM PDT by JRandomFreeper (Gone Galt)
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To: SkyPilot

The occupier in the WH , wants max pain for the most people. If he can blame it on the GOP he’ll withhold SS payments to grandma in a heartbeat.


3 posted on 10/08/2013 6:54:33 AM PDT by RedStateGuyTrappedinCT
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To: SkyPilot

This is just political bullshit. Just as we find out the Government has hundreds of thousands of NON ESSENTIAL employees with this bogus shutdown, we know the Government has thousands of NON ESSENTIAL programs and departments. But threatening to cancel them does not scare people into doing what the Government wants so they threaten social security.


4 posted on 10/08/2013 6:55:34 AM PDT by SECURE AMERICA (Where can I go to sign for the American Revolution 2013 and the Crusades 2013?)
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To: JRandomFreeper
Life is tough all over.

It is.

Although millions of American get their monthly SS check, millions more do not.

Our nation is now incredibly polarized. Every group seems to be against another, and it is every man or woman for himself or herself.

I have never seen it so bad. On their very board, you will jackals and wolves come out salivating with fangs sharpened about some lowly and low paid FBI secretary who got furloughed, screaming that they hope she starves, rolls over, and dies.

People will also shout from the rooftops that "We are broke! Cut! CUT! CUT!!!

But when you proposed cutting their program or check (Social Security, Medicare, SS Disability, etc) then you will get an earful.

5 posted on 10/08/2013 6:56:41 AM PDT by SkyPilot
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To: JRandomFreeper

This is a big deal PR-wise-effects the most people, most likely. Most of those over 65 are VERY dependent on Soc. Sec., maybe not right away...


6 posted on 10/08/2013 6:57:58 AM PDT by madison10
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To: SECURE AMERICA

sound and fury signifying nothing


7 posted on 10/08/2013 6:58:23 AM PDT by Califreak (11/6/12 The Day America Divided By Zero)
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To: SkyPilot
All of the entitlements need to be cut. Including SS.

/johnny

8 posted on 10/08/2013 6:58:29 AM PDT by JRandomFreeper (Gone Galt)
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To: SkyPilot

Because the Supreme Court ruled in Fleming vs. Nestor that the government is not contractually obligated to pay Social Security benefits, people who think they are entitled to their SS benefits because they paid into the fund may be sadly surprised. You only get benefits if Congress authorizes payment, and that can change at any time.

Who but the Leftists who have been using SS contributions as a piggy bank to fund all their give-away programs thought this was a good idea?


9 posted on 10/08/2013 6:59:27 AM PDT by txrefugee
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To: RedStateGuyTrappedinCT

According to ABC, 70% of Americans blame the Republicans for all this.


10 posted on 10/08/2013 7:01:02 AM PDT by sarasota
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To: SkyPilot

Any warnings about cuts in welfare, food stamps, Medicaid, Section 8 housing vouchers and other programs where the recipients have made no contributions to the funding of the programs?

They always use SS are the scare tactic and never threaten to cut welfare programs.


11 posted on 10/08/2013 7:03:47 AM PDT by Will88
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To: SECURE AMERICA
But threatening to cancel them does not scare people into doing what the Government wants so they threaten social security.
I was wondering when this threat would be re-initiated. We made our new elevated rent last month, but with SS included.

However, I recently moved our "tiny Mary" statue to right outside our back door. Now we can take just a couple of steps to "start the beads" for America.
12 posted on 10/08/2013 7:04:29 AM PDT by mlizzy (If people spent an hour a week in Eucharistic adoration, abortion would be ended. --Mother Teresa)
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To: sarasota

Considering that 100% of ABC’s stories blame republicans I am shocked that only 70% of their poll responders do. Maybe they are losing their touch.


13 posted on 10/08/2013 7:04:53 AM PDT by RightOnTheBorder
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To: SkyPilot

but....it’s in a SECURE TRUST FUND with MY name on it....right??


14 posted on 10/08/2013 7:05:28 AM PDT by Buckeye McFrog
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To: JRandomFreeper

Life is a lot tougher when you depend on the government.


15 posted on 10/08/2013 7:06:06 AM PDT by dfwgator
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To: sarasota
According to ABC, 70% of Americans blame the Republicans for all this.

Unfortunately the majority still get their info from the water carrying alphabet networks. I think as stories of WWII vets being denied access to open air monuments and roads facing Mt Rushmore are coned off so people can't take pictures , people will realize this is 0bama's doing. As Zero shows himself to be the fascist thug dictator we all know he is , people on the fence will start waking up. The WWII monument incident was a PR disaster for the regime.

16 posted on 10/08/2013 7:06:22 AM PDT by RedStateGuyTrappedinCT
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To: JRandomFreeper

I think it was Bernanke that said, when questioned about the future of social security -

we can guarantee the money will continue,
but we can’t guarantee that the money will buy anything.


17 posted on 10/08/2013 7:07:25 AM PDT by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: JRandomFreeper
There are earned and unearned entitlements - and I do make distinctions in the two. At least for earned entitlements, there was some contribution (in taxes, payroll taxes, or other) from the current crop of recipients. However, programs like SS are by their very definition a Ponzi scheme - the current collectors are living off the taxes of the dwindling few who are still contributing, or by new debt. There is no "trust fund." The money is gone.

The 3 worst actors in terms of our debt and deficits are Medicare, Social Security, and Medicaid. Of those 3, only Medicaid is unearned.

Add ObamaCare to the list very shortly.

Moreover, the average Medicare recipient reaps 3 times the benefits of what they paid in, with women reaping more than men (on the average).

Food Stamps (1 in 7 Americans now on the rolls at a cost of $135 Billion per year) is also completely out of control.

Sequestration cut discretionary spending, of which the military took a massive disproportionate share (17% of the budget yet must pay 50% of all cuts).

Sequestration did NOTHING to tackle our out of control Entitlement spending. Entitlement were exempt from cuts.

The list of unearned Entitlements is almost obscene.

18 posted on 10/08/2013 7:08:56 AM PDT by SkyPilot
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To: dfwgator

I wish SS was voluntary.


19 posted on 10/08/2013 7:09:00 AM PDT by Baseballguy (If we knew what we know now in Oct would we do anything different?)
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To: Will88
They always use SS are the scare tactic and never threaten to cut welfare programs.

That's true.

20 posted on 10/08/2013 7:09:45 AM PDT by SkyPilot
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To: Buckeye McFrog
but....it’s in a SECURE TRUST FUND with MY name on it....right??

You betcha. There is a "lock box" with "your money" in it - so don't worry.

;^>


21 posted on 10/08/2013 7:11:42 AM PDT by SkyPilot
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To: RedStateGuyTrappedinCT
The occupier in the WH , wants max pain for the most people

No. Only for certain people.

Social security, veterans benefits, national parks and the military will be cut.

The Obamaphones and EBT cards will still work. Golfing and vacations will continue for the First Family.

22 posted on 10/08/2013 7:11:45 AM PDT by ladyjane (For the first time in in a long time I am proud of my country.)
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To: JRandomFreeper

Normally you and I agree on a lot, but I must take exception here.

Social Security is not an entitlement program.

I paid for it - to the tune of 15% in some years and 12.5% in others. I paid so much in FICA that I maxed out for more than 20 years of my working life.

That’s *MY* money, taken from me forcibly by the Gubmint.

I want it back.


23 posted on 10/08/2013 7:12:59 AM PDT by shibumi (Cover it with gas and set it on fire.)
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To: JRandomFreeper

>>>All of the entitlements need to be cut. Including SS.>>>

They’ve succeeded! They have us fighting among ourselves.

How nice for you that you’ve made enough money so that you can go galt and not pay taxes. Most of us paid S.S. all our working lives and were promised S.S. in our old ages. $50 paid in S.S. in the 1950’s would have paid for food for a family of five for a week. Today it pays for a tiny fraction of the food bill. And, yes, we managed to do without anything not necessary to survive, and put some aside for our old age, but the banks are not paying interest on our savings and food prices, etc. continue to rise.


24 posted on 10/08/2013 7:13:48 AM PDT by kitkat (STORM THE HEAVENS WITH PRAYERS FOR OUR COUNTRY.)
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To: ladyjane
Social security, veterans benefits, national parks and the military will be cut. The Obamaphones and EBT cards will still work. Golfing and vacations will continue for the First Family.

You don't know how correct you really are.

25 posted on 10/08/2013 7:13:58 AM PDT by SkyPilot
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To: JRandomFreeper

Yep, all of them. And many of those on SS DBL need to be tossed off it if they are able to work.


26 posted on 10/08/2013 7:14:10 AM PDT by b4its2late (A Liberal is a person who will give away everything he doesn't own.)
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To: SkyPilot
But when you proposed cutting their program or check (Social Security, Medicare, SS Disability, etc) then you will get an earful.

Sure, let's cut social security - even though people paid tens of thousands of dollars into it their entire working lives.

But let's continue Obamaphones. How can you have a flashmob without them! and let's continue EBT cards. The casinos and strip joints will go broke without them.

That's fair.

27 posted on 10/08/2013 7:17:16 AM PDT by ladyjane (For the first time in in a long time I am proud of my country.)
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To: shibumi
Your money was stolen, put into the general fund, and spent.

Of course, you want it back.

You probably won't get it back, though.

/johnny

28 posted on 10/08/2013 7:18:04 AM PDT by JRandomFreeper (Gone Galt)
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To: kitkat
Your money was stolen and spent. It's not there. It sucks, but that's reality.

/johnny

29 posted on 10/08/2013 7:18:46 AM PDT by JRandomFreeper (Gone Galt)
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To: JRandomFreeper

I did some calculating when I got my first SS check last year.

I need to live to around 115 to break even.

I’m choosing to regard it as a challenge.


30 posted on 10/08/2013 7:20:20 AM PDT by shibumi (Cover it with gas and set it on fire.)
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To: shibumi
I’m choosing to regard it as a challenge.

I'll be rooting for you. 115 or bust.

/johnny

31 posted on 10/08/2013 7:21:30 AM PDT by JRandomFreeper (Gone Galt)
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To: shibumi

A challenge it will be with the zerocare death panels in place.


32 posted on 10/08/2013 7:23:15 AM PDT by Heart of Georgia
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To: SkyPilot
As a group, seniors did NOT vote for Zer0 so for him, an easy choice.
So, go ahead you fraud, withhold my SS retirement check....I f***ing DARE you! I'll last longer than you will with that s***storm that you will bring down upon yourself.
DO IT!!!
33 posted on 10/08/2013 7:23:39 AM PDT by Roccus (Dealing with POLITICIANS is the true war on terror)
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To: SkyPilot

Only Republicans will be hurt as no Democrats receive SS checks./s So, bring it on Obozo!!


34 posted on 10/08/2013 7:24:13 AM PDT by jch10 ("Normandy was closed when we got there too!")
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To: shibumi

Not only you but your employer contributed as well. You and I worked our whole lives for it and we did not have a choice - it was a forced contribution. If the government had treated it like such, and not added disability, etc to it would be solvent.


35 posted on 10/08/2013 7:25:15 AM PDT by gramho12
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To: RedStateGuyTrappedinCT
The occupier in the WH , wants max pain for the most people. If he can blame it on the GOP he’ll withhold SS payments to grandma in a heartbeat.

I suspect the WH occupier will make an exception for 'disability' checks - otherwise Detroit will stop functioning.

36 posted on 10/08/2013 7:26:04 AM PDT by GOPJ (Brieitbart sent me... Freeper newfreep)
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To: SkyPilot
Barry better watch his step, you don't screw with old folks...
:: like the saying goes ::
...they won't fight you, they'll just kill you.
37 posted on 10/08/2013 7:26:19 AM PDT by Condor51 (Si vis pacem, para bellum.)
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To: JRandomFreeper

SS is not an entitlement. It is money you were forced to pay into a broke system and are just getting part of it back. It is also not a benefit either. You wouldn’t consider a tax refund as an entitlement or benefit.


38 posted on 10/08/2013 7:26:46 AM PDT by SkyDancer (Live your life in such a way that the Westboro church will want to picket your funeral)
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To: Buckeye McFrog

Clinton & Gore sure referred often enough to ‘my LOCKBOX’.

Is there a single politician in the entire country who tells the truth to citizens???


39 posted on 10/08/2013 7:28:06 AM PDT by ridesthemiles
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To: SkyDancer
SS is an entitlement paid out of the general fund. The SS taxes you were forced to pay at gunpoint were stolen and put into the general fund and spent.

That's reality.

/johnny

40 posted on 10/08/2013 7:29:18 AM PDT by JRandomFreeper (Gone Galt)
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To: Buckeye McFrog

And in a “locked box”, Buckeye.


41 posted on 10/08/2013 7:30:11 AM PDT by kiltie65
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To: RedStateGuyTrappedinCT

“The occupier in the WH , wants max pain for the most people. If he can blame it on the GOP he’ll withhold SS payments to grandma in a heartbeat.”

I was going to say something like that, but you said it better.


42 posted on 10/08/2013 7:30:24 AM PDT by I want the USA back (Media: completely irresponsible traitors. Complicit in the destruction of our country.)
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To: shibumi

You are correct.

We paid into the system what the GOVERNMENT EXPERTS required us to.

We did NOT set the rates or the top of the thresholds.....they did.

We are NOT setting the rate of return we are now receiving-—they are.

Telling me that I paid & my employer paid INVOLUNTARILY into that system for over 50 years & now telling me I am not allowed to collect anything is just plain stupid. \

I have been self-employed for over 25 years of those 50 years, so I had to pay BOTH halves—15.3%—and that came out of my earnings before I paid mortgage payments or anything else.


43 posted on 10/08/2013 7:32:53 AM PDT by ridesthemiles
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To: JRandomFreeper

I see your point but to call it an entitlement is pushing it. An entitlement basically means the government passed a law “entitling” you to certain things (such as SS) but you paid for it - you are entitled to your own money. Kinda sounds weird.


44 posted on 10/08/2013 7:33:13 AM PDT by SkyDancer (Live your life in such a way that the Westboro church will want to picket your funeral)
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To: JRandomFreeper

I am going gault:......may all your worldly goods, 401k, cd’s, and all your monetary investments be confiscated (taken away) by yer darlin prezident Obama


45 posted on 10/08/2013 7:33:21 AM PDT by Bullfrogg (American by birth, Irish by heritage, and hellraiser by choice)
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To: JRandomFreeper

>>>Your money was stolen and spent. It’s not there. It sucks, but that’s reality.>>>

Your original post said to stop S.S.

Since it was stolen from the people, let it be deducted from Zero’s million dollar vacations, etc. and deposited it in a “locked box” for re-payment to the S.S. payers. It’s OURS and we should be screaming for it back.

To ALL: Inform the House that they should be demanding repayment to the people who paid S.S. and are now suffering from the government theft of our money. The Obama phones alone cost the S.S.payers several million.


46 posted on 10/08/2013 7:34:26 AM PDT by kitkat (STORM THE HEAVENS WITH PRAYERS FOR OUR COUNTRY.)
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To: SkyPilot
Although millions of American get their monthly SS check, millions more do not.

And everybody will fight for their share.
However there is not enough to go around.
This is the hallmark of a bloated semi-socialist government that has exhausted it's resources.

Feckless representatives chosen for their unsustainable promises will not change their spendthrift ways until they are forced to stop.

47 posted on 10/08/2013 7:34:39 AM PDT by oldbrowser (We have a rogue government in Washington)
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To: JRandomFreeper

How about revealing what YOUR age is?

I would like to know how far into paying SS in your paycheck you are.


48 posted on 10/08/2013 7:34:48 AM PDT by ridesthemiles
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To: Bullfrogg
He's not my president. The GOP-E owns Obama.

And there isn't anything to take from me. Government got it all.

Food this week consists of homemade bread, feral pig, venison, home-grown eggs, and veggies from the garden.

You don't have to be rich in money to go Galt.

/johnny

49 posted on 10/08/2013 7:36:04 AM PDT by JRandomFreeper (Gone Galt)
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To: ridesthemiles
In my fifties. I've paid much more in than I'll ever see. My money was stolen and spent, too. I'm as screwed as everybody else.

/johnny

50 posted on 10/08/2013 7:38:12 AM PDT by JRandomFreeper (Gone Galt)
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