the debt ceiling has been raised numerous times over the years and people did not lose their jobs. Not raising the debt ceiling would certainly create economic chaos and widescale job loss, since interest rates that the United States would have to pay in the future to borrow money or to get anyone to buy our treasury bonds would increase substantially thereby slowing down economic acitivity.

Melody the people you know who are over 65 should make sure that the people who put them through this ringer for political reasons and who are using the debt ceiling to ram through their long time wish list of cuts to social security, medicare and medicaid are sent home the next election.

I am sure most of you just watched Obama and the Speaker of the House do their thing.

What do you all think?

Melody

Me personally, my check always arrives on the 3rd Wednesday of the month.

Interesting editorial............

Checks are likely to keep coming

I know myself. I'm not going to relax until I see that check deposited into my bank account.

And would you believe that MANY people do NOT understand what's going on. I asked a person who has all their marbles and is 80 but is a YOUNG 80, and we were talking and she watches tv and reads the newspaper and I said 'What do you think about what Obama is saying about the social security checks that might not be going out"?

She said and I quote"

"Oh, that doesn't apply to me, I'm an old person and my check goes directly into my bank account". Many people think like this. They have NO clue.

I just looked at her and said NOTHING.

Sigh!!!!

The media is trying too sweep this under the rug.
The House Speaker never mentions people on Social Security. He is only interested in big business and letting the rich get richer and the poor getting poorer. He says a tax increase would destroy jobs. Well ,them not paying taxes hasn't created new jobs,so whats the point?
I 've read that the government takes in 220 billion dollars each month so what they do with that money if there is no debt ceiling agreement is beyond me.
The President doesn't want to have to deal with the same problems six months from now so it sounds like he doesn't care if there is a default.
And yes there would be job loss with or without an agreement.

She's probably better off, Melody. Too much knowledge can be a bad thing. I'm not worried about the checks. They'll be there. Whether you have direct deposit or get a paper check......it will be there. They're just using that scenario to get everyone's attention and to try and make the "other side" look bad. It's all show. And I don't agree with the tactics they're using but in politics I guess anything goes. Once everyone has their money each side will want to "claim victory" and try and blame the other. It's a vicious cycle that's not likely to change any time soon.

And with the re-election coming up, I can't imagine the president doing this to people on social security. I mean, would anyone vote for a president that allowed this country to default??

Good Lord!

It'll be fine. Just let them have their "moment".....I know it's frustrating because they're messing with the most vulnerable population of people. But, it would be devastating to either party to be the one that "let it happen". All they're trying to do is hold out till the 11th hour and then miraculously make a deal and each side will take credit for it. It's so predictable....... It's hard to watch grownups behaving like this.

And I just came from around the corner. I live in a very Italian populated neighborhood with lots of Older people.

I was walking, bumped into some people I know and said "did you listen to the President last night?" They said "why, what did he say?"

I said 'Well, he spoke about the debt ceiling and indicated that there might not be enough money for the Social Security checks to go out on the 3rd"

One person said "Oh, that doesn't apply to me, I get my check on the 27th"

Another person said "what do you mean he won't send out the checks"? HE WON'T SEND OUT THE CHECKS???"

I simply explained what is going on in Congress and they all looked at me and said 'oh, that only affects the old people right?"

I said 'no, it does NOT only affect the old people". If we default on our debts, everything will go up because our Triple A credit rating will be affected, the dollar won't be worth anything, people can't pay their rent, which means landlords can't pay the mortgages, which means the credit card interest rates will go up, blah blah blah"

They all looked at me and said "He can do this??"

I said "He's the president, and right now, he's locked in a debate with the Speaker of the House about which plan is the better plan and it looks like a stalemate"

Again, they all looked at me and said "What happens if the checks don't go out"?

I said "I just explained this to you"

Everybody then yelled

"THIS CAN'T HAPPEN, THIS IS AMERICA!!!!!" They can't do that to us!!!

I just left them debating this. I had to come home and get a drink of water because no one seems to think there is a possibility that this can happen.

And the sad part is no one understands WHAT is happening.

Look at what my Aunt said:

"oh, this doesn't apply to me, I get my check via direct deposit"

I reiterate!!!!

"Good Lord"

If this comes to no good and the people FINALLY understand what is happening, I predict a riot of unknown proportions.

We shall just wait and see.

Let's keep fingers and toes crossed.

Melody

Melody, I really think we need to be careful about everyone getting alarmed here.

First of all, the President does not send out the SS checks...the SSA do and apparently they have enough funding to cover SS till 2030 according to reputable reports.

I really think everyone just needs to take a deep breath and let the politicians do their ridiculous political posturing.....