Oh, dear. Remember the State of the Union address, when Republicans and Democrats promised President Biden to protect Social Security? Well, no. Republicans’ failure to raise the debt ceiling has consequences; they want to cut funding for commitments the Congress has already made. Consider buying a prom dress, wearing it to the prom, and returning it to the store. Well, that doesn’t work, nor should Congress take back legislation already in progress, e.g., SOCIAL SECURITY.
In the first two days of June, Medicare, Medicaid, and military and civil retirement payments, about $98 Billion is supposed to be paid out on June 1, first to our oldest — older than age 88, and poorest — less than $2000 in assets, recipients.