Obama: August benefit checks may be stalled if no debt deal

Reuters News
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Posted: Jul 12, 2011 1:04 PM
Obama: August benefit checks may be stalled if no debt deal

WASHINGTON (Reuters) - President 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 web site.

"Because there may simply not be the money in the coffers to do it," Obama said.

(Reporting by Laura MacInnis, Matt Spetalnick and Jeff Mason)