As the U.S. deficit grows to $14 trillion, the U.S. is about to reach default if Congress cannot agree upon a debt increase. On July 12 , CBS anchor Scott Pelly interviewed President Obama about the debt crisis. Regarding Social Security checks, Obama stated, “I cannot guarantee that those checks go out on August 3, if we haven’t resolved this issue. Because there may simply not be the money in the coffers to do it.” Withholding Social Security is undeniably unfair.
Social Security is funded by taxpayers and this fund is financed through a dedicated payroll tax; the remainder of the fund is provided by interest the account earns. The U.S. Social Security Administration information states, “nine out of ten individuals age 65 or older receive Social Security benefits.” This money was taxed out of their paychecks until retirement, they are entitled to it. The government should not be taking money from this fund and using it as they please. Whether it be the people over 65, or disabled workers who have been displaced from employment due to a long-term disability, it is unjust to take away money that is owed to them when they have rightfully earned it.