From Zero Hedge:
It worked for Hank Paulson who showed up in Congress with a three-page termsheet, delusions of grandeur, a scary story, and an easily frightened audience. Why should it not work for the president? As Reuters reports, "Barack Obama said in an interview on Tuesday that checks to recipients of the Social Security retirement program may not go out in early August if he and congressional leaders do not agree a debt deal."
"I cannot guarantee that those checks go out on August 3rd if we haven't resolved this issue," Obama said in an interview with CBS, according to a transcript on the network's website. "Because there may simply not be the money in the coffers to do it," Obama said." Is that so, Mr. President? Please explain then how…
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