Federal Programs At Risk: SNAP, Medicare Payments, Social Security, And Veteran Benefits!

An analysis was released last week which illustrates federal programs at risk. SNAP, Medicare payments, Social Security, and veteran benefits are among the programs.

Federal Programs At Risk: SNAP, Medicare Payments, Social Security, And Veteran Benefits! (PHOTO: Yahoo Sports)

Federal Programs At Risk If Congress Fails to Raise Debt Ceiling

If Congress fails to raise the debt ceiling in a matter of days, many federal programs could be at risk and go unpaid.

The Bipartisan Policy Center,  a think tank, has published an analysis of federal programs at risk.

Treasury Secretary Janet Yellen told House Speaker McCarthy that possibly, the US could run out of money. Nevertheless, even with grueling times, President Biden and McCarthy have yet to decide on the debt ceiling.

The Bipartisan Policy Center has used the daily Treasury statement and identify which programs could be at risk if a default happens. On the other hand, the US has never defaulted on its debt, which means no one can say what will happen if the US government no longer afford its obligations.

These are the following programs that the government could be unable to afford in the first 10 days of June; Educational programs, SNAP benefits, Federal salaries, Military retirement, Tax refunds, Social Security, Medicaid, Medicare, and Veteran benefits.

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Federal Programs At Risk

The Treasury Secretary has not yet indicated how they would plan to prioritize payments. But she said they are expecting they would be unable to pay all the bills in early June, and that she will continue to update the Congress. They will make some hard choices if the debt ceiling isn’t raised.