Local Financial Advisor Says Social Security Checks Could Still Go Out Even With Debt Default

By: Kristin Burke
By: Kristin Burke

ROCKFORD (WIFR) -- President Obama threatened social security payments and veterans' checks,could be delayed if a deal is not reached to raise the debt limit above$14.3 trillion by August 2nd. That's when the Government will stop being able to borrow money.

But local financial advisor Grant Moore doesn't think we'll reach that point. But on the chances we hit the ceiling, Moore says there would still be funds available to pay some seniors, if the government chooses.

"There is still Government revenue coming in each month I think about 200 billion dollars that comes in. with the current revenues that are coming in, regardless of if the ceiling is reached or not, it would pay about 60 percent of the Governments bills, which still leaves a good chunk left unfunded."

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  • by Virginia Location: Pecatonica on Jul 14, 2011 at 03:19 PM
    Isn't it a shame that is always the little guy they threaten The elected officials that can't seem to get the budget balanced should not be paid either.
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