Krugman Repeats Obama’s Slip Suggesting Social Security Is Insolvent

by Oct 8, 2013Liberty & Economy0 comments

Why would S.S. checks not go out if the U.S. doesn’t raise the debt ceiling so that it can borrow more to pay its debts, unless the U.S. had to borrow the money sent out in S.S. checks?

Paul Krugman writes that if the U.S. government doesn’t raise the debt ceiling and goes into default,

it would be forced into savage spending cuts, around 4 percent of GDP, that wouldn’t just cause hardship (Surprise! No Social Security for you this month!) but amount to a severely contractionary fiscal policy, sending us into recession if it lasted any length of time. [Emphasis added.]

Why would S.S. checks not go out if the U.S. doesn’t raise the debt ceiling so that it can borrow more to pay its debts, unless the U.S. had to borrow the money sent out in S.S. checks?

Seems Krugman unwittingly parroted Obama inadvertently letting the cat out of the bag about Social Security being broke.

Did you find value in this content? If so and you have the means, please consider supporting my independent journalism.

About Jeremy R. Hammond

About Jeremy R. Hammond

I am an independent journalist, political analyst, publisher and editor of Foreign Policy Journal, book author, and writing coach.

My writings empower readers with the knowledge they need to see through state propaganda intended to manufacture their consent for criminal government policies.

By recognizing when we are being lied to and why, we can fight effectively for liberty, peace, and justice, in order to create a better world for ourselves, our children, and future generations of humanity.

Please join my growing community of readers!

 

Download my free report 5 Horrifying Facts about the FDA Vaccine Approval Process.

Download my free report 5 Horrifying Facts about the FDA Vaccine Approval Process.

My Books

Related Articles

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *

Pin It on Pinterest

Shares
Share This