POLITICO
July 26, 2011
By Jay Powell
If the debt ceiling is not raised by Aug. 2, the federal government will be far short of the cash it needs to pay all its obligations. Will Social Security payments be affected?
This question is highly complex and depends, ultimately, on future events. The Treasury Department is due to face a $23 billion Social Security payment on Aug. 3, according to the Bipartisan Policy Center’s Debt Limit Analysis, and it will receive only $12 billion in cash inflows. For the time being, the timing of this payment is in doubt.
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