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(The Center Square) – President Joe Biden signed the bipartisan Social Security Fairness Act, which increases payouts to retired public sector workers and raise the national debt by at least ...
The bill could also jeopardize the Social Security fund overall, critics say. Sen. Thom Tillis, R-N.C., said the Social Security trust fund is less than 10 years away from being insolvent, and ...
John F. Kennedy. In 1961, JFK amended Social Security to allow workers to opt for early retirement at age 62 — but only men. The amendments also increased the minimum monthly benefit and the ...
The future of Social Security has become a top political issue and was a major point of contention in the 2024 election. About 72.5 million people, including retirees, disabled people and children, receive Social Security benefits.
President Joe Biden inherited an ... in four decades isn’t the only change to Social Security that the Biden administration made in 2021 that took effect in 2022. ... budget includes an added $1 ...
During May, Republicans threatened to not raise the U.S. debt ceiling, risking a possible debt default. President Biden signed the Fiscal Responsibility Act of 2023 on June 3, 2023, to avert a potential crisis. The law restricts some spending for two years, imposes new work requirements on older Americans receiving food aid, and reduces ...
House Speaker Kevin McCarthy (R-CA) talks to reporters after his meeting with President Joe Biden to discuss the federal debt limit and spending at the White House on February 1.
The United States debt ceiling is a legislative limit that determines how much debt the Treasury Department may incur. [23] It was introduced in 1917, when Congress voted to give Treasury the right to issue bonds for financing America participating in World War I, [24] rather than issuing them for individual projects, as had been the case in the past.