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? asked in Politics & GovernmentElections · 8 years ago

Debt ceiling puts SSI checks at risk will there be Kaos in America if people dont get there money?

Update:

Correction their money

Is Oct17 2013 the deadline

Update 2:

ALSO will this affect welfare people

7 Answers

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  • Favorite Answer

    I don't know about SSI or Welfare but the VA has testified in front of the House that the shutdown and Default will stop Disabled Veterans who were wounded fighting for you from being paid disability payments.

    From what I hear the TeaPublicans were especially pleased when they found that out. Make soldiers and sailors fight and die but god forbid they should survive and need to be taken care of!

  • Tmess2
    Lv 7
    8 years ago

    Nobody knows because we have never reached this point before.

    Hitting the debt limit will create cash flow problems.

    Furthermore, interest on the debt represents about 7% of spending and about 8% of revenue. To pay interest on the debt and stay within current revenue, spending would have to be cut by 25% across the Board. In theory, Social Security, Medicare Part A, and other trust funded programs could continue at 100% since redeeming the bonds owed to those programs actually lowers the national debt. But that would require further cuts to the rest of spending including Medicare Parts B-D and Defense.

  • Anonymous
    8 years ago

    Both sides have to pass it before the deadline even though both sides know they are stealing from their children and grandchildren. IMHO, the enormous size of the national debt should not be increased one penny and SSI, Food Stamps and Welfare will have to take the fall. NASA should be defunded and the military cut back. Student loans should also be eliminated. For the poor start a CCC program like back during the great depression where they earn their money by doing heavy toil. Draconian actions need to be taken.

  • 8 years ago

    It may/will affect people who work, not welfare people.

    Had my first caseload in 1977, been through a lot.

    I've gone without payday.

    I've had pay reductions.

    I've had furlough days (reduced paycheck)

    Government welfare workers will go unpaid long before any welfare people are affected.

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  • 8 years ago

    There will be chaos should the debt ceiling not get raised. And it's going to come from more than those recipients.

  • ?
    Lv 6
    8 years ago

    Social Security is prefunded and the program has millions in stash.

  • 8 years ago

    no one will dare stop social security checks

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