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Government officials are sounding warnings that Social Security payments could be halted if Congress and the White House don't come up with a bill to raise the debt ceiling before the government ...
The debt ceiling is the limit placed by Congress on the amount of debt the government can accrue. In order to pay its bills to those it borrowed from and dole out money for everything from ...
A major worry surrounding the current debt-ceiling crisis is how Social Security payments will be made should the ceiling not be raised. While some warn that payments would be jeopardized, a law...
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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.
Social Security payments are made monthly and distributed according to one’s birthday. Next month’s payments are due June 3, 14, 21 and 28. In March, retirees received an average of $1,784 a ...
Now another battle is brewing over whether to cut Social Security funding in exchange for an increase in the federal debt ceiling, which the U.S. hit Thursday, Jan. 19.
Social Security is considered a mandatory program, and it isn’t funded by the shorter-term appropriations bills passed by Congress and signed by the president.