Today Congressman Bill Posey (R-FL) was joined by 6 of his House colleagues in introducing legislation to ensure the timely payment of Social Security benefits to senior citizens. Last week, the President warned that he could not "guarantee" that Social Security benefits would be paid to retirees if a deal could not be reached on the debt ceiling.
"The President is essentially saying he could take incoming Social Security payroll taxes and spend them elsewhere," said Congressman Posey. "That money belongs to the nation's retired seniors who have spent their entire lives working and paying into the system. The Federal government is obligated to make these payments and anything short of doing so should be considered theft."
Posey's bill, the Social Security Check Guarantee Act (H.R. 2581), simply removes the payment of Social Security benefits from the debt ceiling limit discussion by requiring that Social Security checks be sent to seniors even if the federal government reaches the statutory debt limit. "The Federal government takes in enough Social Security Payroll taxes each month to pay the lion's share of social security benefits," added Posey.