Social Security could be delayed due to debt impasse

Published: May. 25, 2023 at 7:52 AM CDT
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(CNN) - If President Joe Biden and House Republicans can’t agree to lift the debt ceiling, senior citizens could be among the first to feel the impact.

The U.S. Treasury Department says if it can’t borrow more money, it won’t be able to pay the nation’s bills as soon as June 1.

The batch of Social Security payments scheduled to be sent out on June 2 goes to the oldest and most vulnerable recipients.

People who enrolled more recently get their payments later in the month.

About 40% of recipients rely almost entirely on Social Security payments for food, housing and essentials.

Federal workers and military members’ paychecks could be impacted as well.

It is unknown how the Treasury Department would prioritize payments.