It does indeed for about 13 million retirees for whom Social Security is a lifeline
With the prospect that Congress may fail to raise the debt ceiling and the possibility that Social Security benefits may not be paid on a timely basis, one obvious question is whether it matters if people get their check a few days, a week, or a couple of weeks late. From my reading of the evidence, it matters very much.
Does it matter if the checks for these 13 million people are delayed? They will definitely be paid in full eventually; the issue is whether timing is important. Beyond the fact that these 13 million people have virtually no other source of income by the end of the month, a body of research suggests that timing is very important for cash strapped low-income households. Several studies have looked at Social Security recipients. The U.S.
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