President Obama: Social Security May Not Be Paid If No Debt Ceiling Increase (VIDEO)

President Obama is finally getting serious about articulating the dire consequences of Republican intransigence. In an interview on CBS he specifically states that social security payments along with many of the other 70 million federal checks may be at risk of non-payment.

At the same time I heard some Tea Partiers stating that they should let the debt ceiling lapse and we should live on the 60 cents on the dollar that would be available. This is the mindset we are dealing with. These Tea Partiers do not understand economics and the progressive impact it will have in an economic slowdown. It would throw us into depression.

Most Republican Leaders are not dumb. They know the reality. They are just being held hostage by the Tea Party and as such they are holding the American middle class hostage.

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