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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 ...
Worries are mounting that Social Security recipients could see their payments halted if U.S. lawmakers don't come up with a debt-ceiling compromise in time to avoid a government default. Payments...
A lot depends on how government officials address a law dating to the 1990s designed to protect Social Security benefits even when the government delays raising the debt limit. The law is known as ...
The change is to payments from January 2024 and beyond, meaning the Social Security Administration would owe back-dated payments. The measure as passed by Congress says the Social Security commissioner "shall adjust primary insurance amounts to the extent necessary to take into account” changes in the law. It's not immediately clear how this ...
Treasury Secretary Janet Yellen has been warning Congress for months about the potential impact of not raising the debt limit, with one of the inherent consequences being delayed Social Security...
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.
On Jan. 19, the United States hit its debt ceiling, an event that has prompted the Treasury Department to use "extraordinary measures" to continue paying the government's debts. The crisis is ...
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 ...