“H.R.728
Latest Title: To require that the Government give priority to payment of all obligations on the debt held by the public, payment of Social Security benefits, and military funding in the event that the debt limit is reached.
Sponsor: Rep Stutzman, Marlin A. [IN-3] (introduced 2/15/2011) Cosponsors (None)
Related Bills:H.R.568, S.259
Latest Major Action: 2/15/2011 Referred to House committee. Status: Referred to the House Committee on Ways and Means.
Declares that, in the event the debt of the federal government reaches the statutory limit, the authority of the Department of the Treasury to pay with legal tender the principal and interest on debt held by the public, the authority of the Commissioner of Social Security to pay monthly old-age, survivors’, and disability insurance benefits under title II of the Social Security Act, and the authority to make any payments, or expend or obligate any funds, under any law administered by the Secretary of Defense (DOD), the Administrator for Nuclear Security, or any other administering Armed Forces Secretary, shall take priority over all other obligations incurred by the government.”
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“Cosponsors (None) “
I think Bloomberg News released a proposed list of what should get funded first in order of priority. Did anyone see that?