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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...
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 ...
With negotiations over the U.S. debt limit at a standstill only a week away from a potential government default, federal agencies have been asked if they can delay upcoming payments. Whether those...
After a year of unprecedented stimulus program spending, the country has reached its debt limit. Now, if Congress does not suspend or raise the debt ceiling, it risks missing payments to both ...
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.
The economic damage would worsen as recipients of social security benefits, government contracts, and other government payments cut back on spending in response to having the freeze in their revenue. [22] The No Budget, No Pay Act of 2013 suspended the debt ceiling from February 4, 2013, until May 19, 2013. On May 19, the debt ceiling was ...
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.