Treasury Secretary Janet Yellen warned of an economic "calamity" if Congress does not raise the nation's borrowing limit, adding urgency to a meeting between President Joe Biden and congressional leaders. Yellen said a default could cause a "severe" economic downturn with a "ripple effect" felt around the world, and that the government would have to choose between paying Social Security benefits, military salaries, or interest on the debt.
Posts tagged as “Social Security”
West Virginia Governor Jim Justice to Announce Senate Campaign Thursday, Challenging Incumbent Joe Manchin in Heated Race
By News Masher on April 27, 2023
Joe Biden Announces Re-Election Bid, Urges Americans to Fight for Freedom and Democracy
By News Masher on April 25, 2023
House Speaker McCarthy Proposes Plan to Raise Debt Ceiling in Exchange for Spending Cuts and Policy Changes
By News Masher on April 18, 2023
House Speaker Kevin McCarthy Vows to Vote on Republican Debt Ceiling Bill Despite Biden’s Refusal to Negotiate
By News Masher on April 17, 2023
New Political Action Committee Ad Criticizes Florida Governor Ron DeSantis Ahead of Potential Presidential Bid
By News Masher on April 14, 2023
Social Security and Medicare Trust Funds Face Financial Challenges, Urging Lawmakers to Take Action
By News Masher on March 31, 2023