President Barack Obama says Social Security checks may not go out next month if the debt ceiling isn't raised before then.
"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 said in an interview with CBS Evening News anchor Scott Pelley, according to excerpts released by CBS News."[T]here may simply not be the money in the coffers to do it." That directly says the legendary Social Security Lockbox or at least what was in it has been stolen. Somebody needs to go to prison for this, just as someone would if it happened in the private sector.
UPDATE: I like Jim Hoft's take on the ever-petulant Barack Obama: "Obama: I May Not Send Out Social Security Checks If I Don’t Get to Raise Taxes"