Here's what could happen to Social Security, Medicare and other government payments if Congress doesn’t fix debt ceiling
But it would then fall short in about $173 billion in other payments for areas like housing and rental assistance programs, civil service and railroad retirement benefits, unemployment insurance benefits or Supplemental Security Income benefits.If the debt limit were reached on Dec. 21, for example, Medicaid payments to states that were supposed to go out that day would not go out until Dec. 22, federal salaries dated Dec. 23 could get pushed to Dec.
Notably, because Social Security payments are made through dedicated trust funds, running up against the debt ceiling would not interfere with the program's financing,The U.S. government could avoid running past the deadline to fix the debt ceiling, as it has done in the past. Most recently, President Joe Biden signed legislation on Oct. 14 to increase the debt limit by $480 billion.and Jodey Arrington, R-Texas, unveiled legislation aimed at changing how the government handles the issue.
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