The Impending Threat of US Debt Default on Social Security and More.
Originally Published 2 years ago — by ABC News
Millions of low-income older Americans who rely on Social Security for almost the entirety of their funds fear the loss of their homes and basic necessities like food and medical care if the federal government fails to pay some of its bills as soon as June 1 due to a debt ceiling impasse. Roughly 1 in 7 Americans age 65 or older depend on the federal benefits for 90% or more of their income. Even a delay in Social Security payments of a few days could put low-income older people in an agonizing position of prioritizing their little remaining spending between rent, food, and transportation to medical appointments.