Hitting the debt ceiling: What bills would be paid?
WASHINGTON – In the summer of 2011, when a debt crisis like the current one loomed, President Barack Obama warned Republicans that older Americans might not get their Social Security checks unless there was a deal to raise the nation’s borrowing limit.
After weeks of brinkmanship, Republicans consented and Obama agreed to a deficit-reduction plan the GOP wanted. Crisis averted, for a time.
Now that there’s a fresh showdown, the possibility of Social Security cuts – and more – is back on the table.
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