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Obama Claims Default Could Immediately Halt Social Security Checks

July 12, 2011 by  

Obama Claims Default Could Immediately Halt Social Security Checks

In an interview with CBS Evening News, President Barack Obama said that if the United States defaults on Aug. 2, he “cannot guarantee” that Social Security recipients will receive their checks the next day.

“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,” Obama said in an interview with Scott Pelley, according to excerpts available from The full interview will air tonight on CBS Evening News.

In a press briefing today, White House Press Secretary Jay Carney said the President stands by his comments and the White House “can’t guarantee… a specific bill will be paid,” should the U.S. go into default.

Carney said he deferred to the Treasury on which bills could and could not be paid if the Aug. 2 deadline was breached, but that the decisions made in that situation would represent a “Sophie’s Choice” dilemma.

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