From the diaries by Erick
Barack Obama has taken a page from the Clinton playbook, and is threatening to cut social security if a deal is not reached to extend the debt limit.
Social security and interest on the debt are, collectively, less than half of the revenue stream which would continue to come into the government, even if the government couldn’t borrow a penny.
Earlier this year, Senate Democrats rejected a Toomey proposal which would continue paying debt and social security checks, even if additional borrowing is not authorized. But Republicans now need to reinvigorate the Toomey bill and focus on a single sentence between now and August 2: “We will protect social security from Barack Obama’s efforts to cut social security in order to fund his liberal agenda.”
by Michael E. Hammond, former General Counsel Senate Steering Committee 1978-89.