Some of the biggest single payments that come due in a given month are Social Security benefits. Treasury Secretary Jack Lew has already raised the specter of those not being paid on time if Congress doesn't raise the debt ceiling.
But there's also a chance that some federal benefits could be reduced if Congress chooses to cut spending abruptly in place of raising the debt ceiling. Again that's not considered a likely scenario, in part because the spending cuts needed would have be very deep just to allow Treasury to keep paying the bills that are coming due. -CNN
If the government runs low on cash, it will have to withhold a range of payments. Retirees might not get their Social Security checks, especially worrisome for the millions of Americans who depend almost entirely on the social insurance program for income. The same goes for Medicare and Medicaid recipients. - CBS
WHAT ABOUT PEOPLE WHO ACTUALLY ARE DISABLED AND HAVE BEEN SO ALL OF THEIR LIVES?
If you voted for any of these people, shame on you.
How the Debt Ceiling Issue Will Hit Ordinary Americans in the Wallet - DailyFinance: "- Sent using Google Toolbar"
It is our congressional leaders who are being "dicks." Debt ceiling issues usually get bipartisan support. Call your congressman or woman and tell them to raise the debt ceiling.
"It also matters because all the parts of our economy are intricately intertwined, like a woven basket where each reed relies upon the next for support. Say the government postpones payments to a contractor. That contractor may decide to hold off on that new ad campaign it had planned to launch. Now, people working in the advertising industry, and maybe the newspapers and television channels that rely on advertising dollars, start to feel the pinch, and so those people decide to start saving more and spending less, in case the economy takes a downturn. Because consumers are now spending less money, stores start seeing a decrease in sales, and respond by reducing employe…