Monday, May 29, 2023

(#5230) Social Security checks will come no matter what on June 1st and beyond

      There has been some confusion about Social Security and how it is affected by debt ceiling hostage taking by republicans. What is little reported on is the 1996 law, (Protection of Social Security and Medicare Trust Funds) that protects Social Security payments even if the government defaults on it's other payment issues https://www.fool.com/retirement/2023/05/06/are-social-security-benefits-on-the-chopping-block/. None of this needs to occur at all but the republican party likes situations where they can threaten anyone, including seniors who don't know their rights to make them vote for them. The debt ceiling is an illogical tool that has no meaning in this day and age and should be abolished at the next opportunity.
     Much like gerrymandering and the electoral college these anti democratic paradigms serve only to thwart democracy. Yet conveniently for republicans who fight against eliminating them. So when this next month of June rolls around there will be deposits and checks for those of us who are mightily dependent on the insurance we paid for most of our working lives. Never before has the US defaulted on our national debt but that doesn't stop republicans from threatening to do so up until the very last opportunity. But just know that no amount of bullshit that republicans spew out to the public, their fearmongering about Social Security and Medicare are empty threats aimed at causing angst.
     There is enough in reserve for the Treasury to keep paying Social Security for the next 2 years which would take us beyond the 2024 general election. If for some reason the newly agreed upon debt ceiling deal that was reached yesterday does not get done in Congress the Social Security deposits and checks will be there in our accounts on June 1st and beyond for at least the next 2 years. 25% of our total national debt over the last 230 years was created during the 4 years of trump. So republicans threatening to not pay our debt is absurd and actually quite like them since they lie, cheat, and steal as a rule. I fully expect the debt ceiling bill to become law sometime after this coming Wednesday but just know this, All Social Security deposits and checks will arrive on June 1st and beyond regardless of what happens on Wednesday.

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