An article leading Yahoo! as I checked my e-mail late Wednesday night, Obama calls for $250 payments to seniors, suggests the President has not yet fathomed just how much the national debt has increased under his watch. I mean, in an ideal world, it’s all well and good to offer checks to seniors to make up for the absence of increase in Social Security payments this year as “increases are pegged to inflation, which has been negative this year.”
And it would be well and good if the money came from some rich benefactor who had a stash of cash lying around the house. Problem is, the President doesn’t have such a stash. And any cash he doles out comes not from reserves he earned or inherited, but from taxpayers currently living, their children and our descendants. Indeed,
Obama did not offer any alternatives to finance the payments. A senior administration official said Obama was open to borrowing the money, increasing the federal budget deficit. The official, who requested anonymity, was not authorized to speak on the record.
Not authorized to speak on the record? Hmmm . . .
And increasing the budget deficit? That does seem to be one thing this President excels at:
Methinks this is a political maneuver designed to force Republicans to choose between standing firm for their fiscal principles, potentially offending a segment of the population moving away from the Democrats and caving to the President. And he himself is trying to buy win back the support of seniors who have soured on him because of their opposition to Obamacare.