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Failure to raise debt limit could limit Social Security


Tuesday, June 28, 2011

Social Security benefits could be among the first casualties if President Obama and Congress can’t agree to increase the government’s debt limit on Aug. 2, a new analysis shows.

The Bipartisan Policy Center studied Treasury Department receipts and expenditures for August 2009 and 2010 and determined that the government likely would not have enough revenue to pay the full $23 billion payment to Social Security recipients due on Aug. 3.

2011-06-28 00:00:00