Posted on 05/22/2023 2:30:54 PM PDT by Mariner
As far as I know the VA doesn’t have a trust fund system.
Therefore, federal benefit funding would vanish after default. It might be restored for a few days around the first estimated tax due date but only a debt deal could restore its federal funding.
States have veterans offices so states might pick up some of the slack, but it would only be for a small percentage of things and people.
Vietnam veterans are now over 65 so they would get Medicare and Social Security in most cases.
The Gulf & Iraq & Afghanistan veterans are the most likely to be needy and not get help after default.
I don’t understand why they don’t make cuts to the budget like they are supposed to instead of the debt increase which is money spent already. Nobody seems to know how a budget works. Too many CR which is ridiculous. Now because they are clueless, they think cutting spending is in the debt increase. No wonder we spent 7 trillion since 2017.
SNAP payouts are likely to made for June.
As for July, I can’t say for sure.
Grocery stores will make special deals for SNAP card holders to avoid looting.
Republicans just have to send a clean bill like the last three they did when they controlled all three branches. Why didn’t they cut anything then?
When the Left was in total control, those areas were assured
to remain safe during the budget battles.
Now the Left says they won’t.
You’re exactly right about what they cut when they try to
blackmail us.
You did forget libraries, school sports and music programs.
I’ve never seen storm clouds on the horizon to the level
I am today.
“No wonder we spent 7 trillion since 2017.”
The federal government spends about 4 to 5 trillion dollars a year (that’s ~$13,000 to $16,000 per year per American).
I think the $7 trillion is just the debt increase.
What do you expect from Business Insider?
The US cannot and will not default on its’ debt. This is merely a scare tactic.
Quote:
Medicare Trust Funds
Medicare is paid for through 2 trust fund accounts held by the U.S. Treasury. These funds can only be used for Medicare.
Hospital Insurance (HI) Trust Fund
How is it funded?
Payroll taxes paid by most employees, employers, and people who are self-employed
Other sources, like these:
Income taxes paid on Social Security benefits
Interest earned on the trust fund investments
Medicare Part A premiums from people who aren’t eligible for premium-free Part A
What does it pay for?
Medicare Part A (Hospital Insurance) benefits , like inpatient hospital care, skilled nursing facility (snf) care , home health care , and hospice care
Medicare Program administration, like costs for paying benefits, collecting Medicare taxes, and fighting fraud and abuse
Supplementary Medical Insurance (SMI) Trust Fund
How is it funded?
Funds authorized by Congress
Premiums from people enrolled in Medicare Part B (Medical Insurance) and Medicare Drug Coverage (Part D)
Other sources, like interest earned on the trust fund investments
What does it pay for?
Part B benefits
Part D
Medicare Program administration, like costs for paying benefits and for fighting fraud and abuse
https://www.medicare.gov/about-us/how-is-medicare-funded
“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.”
You know that, and I know that, but the fear factor sells and causes panic. It’s all designed to cause panic.
I bet you won't see one dollar cut from foreign aid, even to countries that hate our guts, or to UN entities that also hate our guts.
Default is scare word meaning late payment.
It is important to realize that federal finances are not the same as those of a business.
The federal government has the 110-year-old might of the Internal Revenue Service at its command.
A business is dependent on faith, goodwill, and most of all, a track record of timely payment.
A business can’t borrow money based on the force of law.
Congress has the Article I, Section 8 power to borrow money, including percentages of new bank-issued certificates of deposit (say 80% of 1% or less CDs sliding down to 20% of 4% CDs).
Congress could reduce the FDIC insurance maximum to steer money in search of loans towards the Treasury rather than to banks.
Why post TOTAL LIES from far left BS organizations?
These crooks keep trying to scare our seniors and vets with the threat of cutting SS and VA benefits. No one believes that they will, and if they did, tar and feathers await them, or worse yet, from their perspective, they would lose their BS job.
We won’t default. WHY do they always say THAT.
Social Security recipients can say:
1) Okay. No hard feelings. I’ll apply for a high paying full time job.😊
or
2) Cry havoc. Let slip the dogs of war.🤬🤬🤬🤬🤬🤬🤬🤬
Sad thing is, the House already sent a bill to the senate, the senate just won't vote on it. So as far as I understand it, it's the senate Dems that control the impasse by inaction. The house already did their portion. If the senate votes and pass the bill the house sent them months ago then there would be no reason for a default on any item.
RE: What? No wheelchair over a cliff?
New version.
This time the guy in the wheelchair pulled a weapon. Two shots to the groin and one to the middle of the forehead.
I agree. Call their bluff, and blame them for not working to reduce the spending.
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