Seniors Worry Debt Ceiling May Affect Social Security Checks
The partial federal government shutdown may now impact social security checks. If Congress can't raise the debt ceiling and pass a spending bill by next Thursday, people who usually get a social security check, may not get one...
"There's my water bill and my power bill... and if they don't do something about all this mess and we lose our social security, we'll be in a rough situation," Said 78-year-old, Phyllis Armstrong. The situation she is talking about is about our nation's debt ceiling crisis. And Armstrong says she's keeping a close watch on what's happening in Washington.
As congressional leaders and President Obama attempt to iron out a deal, some worry what will happen if lawmakers don't agree by their deadline -- October 17. Armstrong says she's concerned with what will happen to her social security checks then.
Legislators hope to temporarily extend the government's ability to borrow to meet its obligations.... But it's a "wait and see" deal now on whether President Obama will sign it.
There has been some action on the government shutdown. U.S. House Speaker, John Boehner, has proposed a short-term increase in the federal debt limit if President Obama agrees to negotiate with Republicans on a broader budget deal.