GOP Debt Limit Crisis Could Cost 83 Million Seniors And Vets Their Checks
A new study found that if House Republicans cause a debt limit crisis it could mean no Social Security and other benefits for 83 million seniors and vets.
If you are enjoying The Daily, please consider becoming a subscriber. Paid subscribers get full access to all of our newsletters and archives, and the ability to comment on all posts. You also get the gratification of knowing that you are supporting news that shares your values, so sign up today.
A House GOP Default Would Be Devastating For Seniors and Vets
A new study from the Joint Economic Committee Democrats found:
Once the United States reaches the debt limit, the Treasury could only be able to pay debts using existing funds and revenue as it comes in. The majority of federal spending pays for the military, Social Security, and health programs such as Medicare and Medicaid.
Incoming tax revenue may not be sufficient to fund ongoing payments to support the military, veterans, and seniors, maintain other government programs, and service existing debt. Over 65 million Americans could have their Social Security and Medicare benefits disrupted, while 18 million veterans could lose access…
Keep reading with a 7-day free trial
Subscribe to The Daily to keep reading this post and get 7 days of free access to the full post archives.