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Old 08-04-2013, 02:50 PM
  #123  
galaxy flyer
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Joined APC: May 2010
Position: Baja Vermont
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And, as your captioned Wiki post stated, the obligations are "already incurred" by Congress, thus making them a political decision which may or may not be honored by that very same Congress thru an increase in the debt ceiling. No increase, no expenditures--they stop upon reaching the ceiling. Again, look up the SCOTUS decisions on whether an individual has any property rights to government payments, other than bond holders.

This is how the SSA terms the argument,

“There has been a temptation throughout the program’s history for some people to suppose that their FICA payroll taxes entitle them to a benefit in a legal, contractual sense.”


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