Hitting the debt limit: What bills would be paid?Submitted by meekandmild on Mon, 01/14/2013 - 11:49
WASHINGTON (AP) — 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.