Stop striking fear in America’s seniors to accomplish political and budgetary objectives - Forbes
Andrew Briggs, resident scholar at the American Enterprise Institute, and contributor to Forbes writes in his article, Social Security, the Debt Limit, and the Washington Monument Strategy how the latter is a ploy used by the government agencies to avoid budget cuts. He cites Treasury Secretary Janet Yellen’s letter stating, “Unless the debt ceiling is increased, nearly 50 million seniors could stop receiving Social Security checks for a time”. Mr. Briggs points out in his article, “That is the kind of threat that resonates with voters, and yet it is almost certainly an idle one”. Read Mr. Briggs’ article here to learn why this is an idle threat and how Social Security’s unusual trust fund financing structure allows it to spend without increasing the debt subject to the debt ceiling.