Debt ceiling calendar: Who might not get their federal payment – and when
CBSN
If the U.S. doesn't lift the debt ceiling and can't pay its bills, millions of Americans could feel the pinch. Social Security checks, veterans benefits, Child Tax Credit payments and more could be frozen.
"Anything that the government spends money on could be affected," said Paul N. Van de Water of the Center on Budget and Policy Priorities.
The U.S. Treasury is still bringing in tax revenue but it's not enough to cover what it owes – it needs to borrow to make up the difference. The department estimates its ability to pay all the bills will be exhausted if Congress does not move to raise or suspend the debt limit by October 18.
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