What Experts Say on Debt Ceiling & Social Security
Lorie Konish of CNBC explains the current state of affairs when it comes to the debt ceiling. The House passed an increase in the debt ceiling this week coupled with discretionary spending cuts. It is unlikely to even get a vote in the Senate and would be vetoed by President Biden in any event. But with the Treasury Department already using “extraordinary measures” to pay its bills (the U.S. hits its debt ceiling in January), experts are weighing in on what a default could mean for Social Security. The doomsday date is expected in June, though it could be a bit later based on revenues. There could be a delay in Social Security checks, even with them being put at the top of the list. See full piece here.