Forewarned is Forearmed: Social Security advocates brace for debt default - AMAC & NBC News
Rob Wile of NBC News breaks down the current state of negotiations over raising the debt ceiling and what it means for those collecting Social Security benefits. While experts do not predict default, it is not out of the question. Still, Dan Adcock, director of government relations and policy for the National Committee to Preserve Social Security and Medicare, states seniors should delay discretionary purchases to build up a little extra savings fund. That is because benefit checks may be stopped or at least delayed if a default occurs. June 1 is the deadline that the Treasury Secretary has stated when the government will be unable to pay all its obligations. Analysts aren’t certain that the government will miss payments to Social Security recipients in the event of default. It would likely depend on how much cash is on hand at that moment in time. Read the full piece here.
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