Congressman Black Reacts to President's Debt Comments

Jul 13, 2011 at 02:49 pm by bryan

Congressman Diane Black (R-TN) reacts to President Obama's comments this week. He warned he could not guarantee Social Security checks would be sent out on August 3rd if Congress did not raise the debt ceiling by August 2nd. That's when Treasury Secretary Tim Geithner has said it will no longer have the money to pay all of the country's bills...

The congressman was on the Lou Dobbs Show on Fox Business Channel. The most recent estimates from the Congressional Budget Office show that Social Security funds remain solvent until the year 2037.   Additionally, multiple reports indicate that should a deal not be reached by August 2nd, it is up to the Administration's discretion which bills to pay and what to delay.
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