Obama admits there is no Social Security "trust fund"

Video ">HERE

"I cannot guarantee that those checks go out on August 3rd if we haven't resolved this issue. Because there may simply not be the money in the coffers to do it," Obama told "CBS Evening News" anchor Scott Pelley

If there's a trust fund, why wouldn't there be any "money in the coffers"?

It's hiliarious–politicians of all stripes talk about a Social Security "trust fund" that's "fully funded" when it suits them, and they say there's no money whenever it furthers the narrative.

Here's Harry Reid lying to reassuring us that the Social Security system is "fully funded for 40 years" and that "the arithmetic works"

(For video evidence of this particular lie from Dingy Harry, CLICK HERE)

High-stakes comedy!

The money's there, the system works, it's fully funded! Except it's not. If you won't let us take on additional debt, we might not be able to send out Social Security checks.

President Obama said, in effect, that if we don't raise the debt limit, there may not be any money to send out Social Security checks. Note to Democrats: Pick one story and stick to it, ok?

There is no money. There never was. It was always a pay-as-you-go, generational transfer Ponzi scheme. The FedGov taxes workers (or borrows money) to pay your Social Security benefits.

Now that the boomers are hitting retirement age, it all goes downhill from here.