Just like Christmas in July, President Obama is firing up the Great Social Security Fearmongering Machine a wee bit early. It is a thing of beauty during elections. It's one of the most powerful pieces of rhetoric the Democratic Party has: Evil Republicans will take your Social Security away! Run! Run to the polls! Vote Democrat!
It looks like at least Mitch McConnell is planning to cave. I'm not sure why Obama waited so long for this tactic. All he had to do was whip out the SS Boogeyman and Republicans will run for the hills. If for some reason McConnell is on his own and other Republicans don't go along with him, the next step will be to point out how many minorities will not get their Social Security checks and how the evil racist Republicans are taking away Social Security because they hate minorities.
Personally, I think the next step for the Republican Party is to stand up to this bullying. Obama has raised the stakes. Raise them back. Let August 2 go and for every damn penny our federal government spends, point out that the money could've gone to Social Security checks instead. Obama cares more about X than he does about senior citizens. This especially works if the US continues to service their debt: Obama care more about Communist China than he does about you! Run! Run to the polls! Vote Republican!