Posted on 05/22/2023 2:30:54 PM PDT by Mariner
The US could default on its debt in as soon as ten days if Congress doesn't raise the debt ceiling.
The Bipartisan Policy Center estimated which federal programs would be at risk in the days following a default.
Social Security and Medicare payments, veterans benefits, and SNAP could be among the first to go.
A new analysis illustrates which federal programs could be the first to go unpaid if Congress fails to raise the debt ceiling in a matter of days.
Last week, the think-tank Bipartisan Policy Center published an analysis on the federal programs that would be at risk in the first days and months following a default on the nation's debt. Treasury Secretary Janet Yellen warned Speaker of the House Kevin McCarthy that the US could run out of money to pay its bills as soon as June 1, but even with the severe time crunch, McCarthy and President Joe Biden have yet to reach an agreement on raising the debt ceiling before that deadline.
(Excerpt) Read more at yahoo.com ...
What they wanted to say: We hope the US defaults on its debt so we can blame the MAGA Republicans. We have videos of grandmas being pushed over cliffs and starving children with swollen bellies due to malnutrition all ready. If only there were a way to place all Republicans in camps where they could be re-educated through hard labor in, say, stone quarries."
I’m calling BS on Social Security payments stoping - there’s a law in place that allows the treasury to pull money from the SS trust fund, and pay people if they don’t have any general funds available
I was watching Mark Levin last night and he said that Social Security, VA Benefits, Medicare among some other items, will not be affected as they, essentially, come from different pools of funding and are protected.
Take it all down. Grab your pitchfork and follow me!
There is not going to be a default, this hysteria needs to stop.
This is propaganda. No way is “Social Security and Medicare payments, veterans benefits, and SNAP” being considered to be “the first to go”.
You notice the welfare checks (EBT cards) are perfectly safe and fully funded while Social Security which is paid by wage deductions are not available.
This thing could be solved in 20 minutes. Republicans want a tiny little decrease in the rate of money printing. Not a real cut, just a slight decrease in the insane borrowing.
Biden and the Dems say not a penny less and will place all the blame on McCarthy. It’s all politics and the Demon Party plays dirty like their master.
Praying and hoping the American people wake up to this monetary orgy which is the real danger to our future.
“food stamps?”
That’s the SNAP payments. I fully expect this Admin to fully structure what’s not paid to inflect maximum pain.
I wrote this before and I will write it again.
Shut it down!
Just the same ole playbook they have used for the last 75
years.
The fear scripts are already written — just need to be dusted off.
Social Security ... payments, ... could be among the first to go.
These can be funded out of the Social Security “Trust Fund” with no net impact on the debt.
Business Insiders=damn liars on the separate trust fund social security and Medicare trust fund.
LIARS! With their phony fear tactics once again. Those would be the very last programs they’d ever touch because they know damn well there would be hell to pay.
Those should be eliminated and not restored in any form.
This article is an abject lie. The mainstream government stenographers are doing their jobs. Who the government pays is a choice. There are plenty of other things to not pay. May I suggest every single lazy ass federal employee, less military, be sent home without pay. We will be a more free and prosperous nation.
Social Security and Medicare Part A and Medicare Parts B&D have trust funds.
These trust funds hold federal debt securities.
The Medicare securities can be paid out to providers and then sold by the providers for say 99 cents on the dollar.
The Social Security debt securities might be paid out to states, which could sell them for say 99 cents on the dollar and then put the proceeds in recipients’ bank accounts. This would mean payment delays of about two weeks in the first month.
Or the lesbian/transgender studies abroad. Oh yeah, and we can’t defund the Wuhan lab.
It’s a lie! They’re NOT going to cut SS, medicare, VA or their med benefits, they’re not even gonna touch welfare, unfortunately. It’s just a scare tactic as usual. Don’t believe any of this garbage. Don’t fall for it this time.
Good grief. Really?
Did people not think this was going to happen?
Not having a strategy is not a strategy.
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