Despite The Earnest Contentions Of Some, Default Does Risk SS Checks
OBAMA-Social Security and other federal checks may not go out on Aug. 3 if the debt ceiling is not increased.
Barack Obama said Social Security and other federal checks may not go out on Aug. 3 if the debt ceiling is not increased. The Treasury Department has argued that failure to raise the debt limit actually would have more dramatic consequences than a government shutdown. “If Congress fails to increase the debt limit, the government would have to stop, limit, or delay payments on a broad range of legal obligations, including Social Security and Medicare benefits, military salaries, interest on the national debt, tax refunds, and many other commitments,” the department said in a statement.
I can only hope some take heed to the facts above.