Look out those who will be on Social Security and owe college loans- President Obama is going after to you and taking what little benefits you have.
From msn.com: It's no secret that falling behind on student loan payments can squash a
borrower's hopes of building savings, buying a home or even finding
work. Now, thousands of retirees are learning that defaulting on student
debt can threaten something that used to be untouchable: their Social
Security benefits.
According to government data compiled by the Treasury Department at
the request of SmartMoney.com, the federal government is withholding
money from a rapidly growing number of Social Security recipients who
have fallen behind on federal student loans. From January through Aug.
6, the government reduced the size of roughly 115,000 retirees' Social
Security checks on those grounds.
That's nearly double
the pace of the department's enforcement in 2011; it's up from about
60,000 cases in all of 2007 and just six cases in 2000.
The
amount that the government withholds varies widely, though it runs up
to 15%. Assuming the average monthly Social Security benefit for a
retired worker of $1,234, that could mean a monthly haircut of almost
$190. "This is going to catch an awful lot of people off guard and wreak
havoc on their financial lives," says Sheryl Garrett, a financial
planner in Eureka Springs, Ark....
Deanne Loonin, a staff attorney at the National Consumer Law Center in
Boston, says she's been working with an 83-year-old veteran whose Social
Security benefits have been reduced for the past five years. The client
fell behind on a federal loan that he signed up for in the '90s to help
with his son's tuition costs. Loonin says the government's cuts have
left the client without enough cash to pay for medications for heart
problems and other ailments....
The government's withholding power also extends to Social Security
disability benefits. Tammy Brown of Redding, Calif., says that the
government has been taking $179 out of her Social Security disability
check each month for the past five years. Brown, 52, became disabled in
1986 after being involved in a car accident. Unable to work, she fell
behind on her student loan payments.
She says the Social
Security check is now too small to cover her food and medical bills, so
she quit taking prescription pain pills. "It's kind of hard to live on
this amount of money," she says.
http://money.msn.com/retirement/article.aspx?post=bd3d4c1c-6988-4a12-80e8-19347fb1c035
Instead of the Treasury dept. going after pay checks when the people probably had the ability to soften the blow. Instead Obama goes after the most vulnerable.
So, Obama, Reid and Pelosi are going after seniors and the disabled and probably killing a few on the side because those being collected on have to choose between medication or a roof over their heads or food.
And if Romney would do this, the liberal media would be having a filed day against Romney.
Let the killing begin by Obama.
h/t Dad 29: http://dad29.blogspot.com/
Interrogation 101
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