Negotiations over the federal debt ceiling mark one of the first big challenges the new Congress will face.
"The consequences are dire, because a default would not only disrupt Social Security and Medicare benefits, but also cause a global economic recession or worse," he said.If the U.S. were to default on its debt, it would be unprecedented. "There's a good chance that benefits for retirees and people with disabilities and survivors would be disrupted," he said.
Meanwhile, Medicare payments may fluctuate, while other areas like federal employee salaries and food benefits through SNAP may stop. The process may be politically "messy," Fichtner said.
It's always SS and Medicare designed to scare citizens and blame a political party! This is just not true!
It's good news for me, there is a debt ceiling and GOP is in charge of the House now...There is a chance for Congress to audit the unnecessary spending and Wars which can cause issues for SS/Medicare FINALLY... :-)
Don't worry they don't have the Senate votes. They're just blovating to their base.
starting with the scare tactics. Lol.
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