As the debt ceiling deadline looms, here's what it could mean for Social Security and Medicare.
Negotiations over the federal debt ceiling mark one of the first big challenges the new Congress will face.
"The consequences are dire, because a default would not only disrupt Social Security and Medicare benefits, but also cause a global economic recession or worse," he said.If the U.S. were to default on its debt, it would be unprecedented. "There's a good chance that benefits for retirees and people with disabilities and survivors would be disrupted," he said.
Meanwhile, Medicare payments may fluctuate, while other areas like federal employee salaries and food benefits through SNAP may stop. The process may be politically "messy," Fichtner said.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
As debt ceiling deadline looms, here's what it could mean for Social Security and MedicareIf debt ceiling negotiations are unsuccessful, the U.S. could default on its debt. Here's what that may mean for Social Security and Medicare.
Leer más »
White House Warns GOP Not to Tie Debt Ceiling to Social Security CutsDemocrats are warning Republicans that they will not negotiate over raising the debt ceiling to avoid economic catastrophe after Republicans spent months warning that they want to cut key social programs by holding debt limit legislation hostage.
Leer más »
Here’s the average Social Security check for 66 million beneficiaries in 2023More than 65 million Social Security recipients are receiving higher payments starting this month. The 8.7% cost-of-living adjustment is the largest one-time increase since 1981 when benefits rose 11.2%.
Leer más »
When will social security checks be deposited in January 2023?Social Security beneficiaries can look forward to bigger checks in 2023. Here's what you need to know about when Social Security recipients will receive their updated benefits for the month
Leer más »
Social Security update: Direct SSI payment worth $914 to arrive in 13 daysIn less than two weeks, Supplemental Security Income recipients will receive their next monthly payment of $914.
Leer más »
Social Security update: Second round of January's payments worth up to $4,194 arriving WednesdayRecipients of Social Security retirement payments worth up to $4,194 will receive the second round of payments on Wednesday.
Leer más »