Whenever Barack Obama says that we must raise the debt ceiling to "pay our bills," it is an out and out lie. Here's the numbers.
The US government is projected to take in $2,901,956,000,000.
Here are the outlays in millions on some of the programs that Obama said we couldn't fund if the debt ceiling is not raised:
Social Security- $825,872
Veteran Benefits and Services- $140,117
Interest on the Debt- $247,715
What does that leave us with? $1,158,006,000,000. Soo what exactly can't we pay?
And just for good measure, we can also pay "Income Security" which includes:
- General retirement and disability insurance (excluding social security)
- Federal employee retirement and disability
- Unemployment compensation
- Housing assistance
- Food and nutrition assistance
- Other income security
Debunking Obama's lies is just too easy.