
Nearly 50 million seniors could face Social Security payments delays if debt ceiling isn't raised
CNN
Nearly 50 million senior citizens could face delays in their Social Security payments if Congress does not suspend or raise the debt ceiling in the coming weeks, Treasury Secretary Janet Yellen told lawmakers Thursday.
"It would be catastrophic for the economy and for individual families," Yellen said at a House Financial Services Committee hearing.
"Nearly 50 million seniors could stop receiving Social Security payments or receive them delayed," Yellen said, echoing what she wrote in a Wall Street Journal op-ed earlier this month. "Our troops would not know when they would get their next paycheck. We have 30 million families who rely on the monthly child tax credits and they would not receive that relief, at least not on time."
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