Which Federal Payments Will Come Due After The U.S. Hits The Debt Limit
Which Federal Payments Will Come Due After The U.S. Hits The Debt Limit
Sarah Ewall-Wice Wed, September 29, 2021
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.
At that point, there are several different scenarios that could play out. The Treasury faces more than $75 billion in payments for Social Security, Medicare, tax refunds and salaries from October 18 through the end of the month.
Some members of Congress have called for prioritizing certain types of payments, starting with principal and interest on debt owed to the public, then Social Security payments, military pay and veterans' benefits. But the feasibility of carrying out such a plan remains in question and there is the potential for legal challenges.
"We have really no idea because we have never been there before, and we can only try to illustrate what this could look like if Treasury were actually to get to a point where it wasn't able to make all of its payments in full and on time," said Shai Akabas of the Bipartisan Policy Center.
As lawmakers battle over who is responsible for addressing the debt ceiling, here's what's at stake:
Social Security payments: October 20 and 27
About 65 million Americans receive Social Security benefits each month, including 46 million retired workers, each getting more than $1,500 a month, and more than 8 million disabled workers, receiving more than $1,200 a month each. Some $90 billion in payments are slated to go out in the course of a month.
Millions of Americans are slated to receive benefits on the third or fourth Wednesday of the month — October 20 and October 27 — just days after the United States could go into default.
Democrats scramble to pass spending and budget measures as government shutdown looms
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Which federal payments will come due after the U.S. hits the debt limit
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SEPTEMBER 30 → OCTOBER 1. WATCH THE TIMING.
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October 1 is ALSO:
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TNT:
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KTFA
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FRANK26…8-12-26…. RED LINES
This video is in Frank’s and his team’s opinion only
Frank’s team is Walkingstick, Eddie and Omar in Iraq and guests
Playback Number: 605-313-5163 PIN: 156996#
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Transcribed By WiserNow Emailed To Recaps (INTEL ONLY)
Welcome everybody to the big call tonight. It is Tuesday, August 11, and you're listening to the big call. Welcome everybody from wherever you're listening, So let's do this. All right. Thank you, Bob. Appreciate that. Thank you, Sue.
And let's talk about where we are now in the world of Intel. It's a little bit quiet out there right now, but I'll tell you from the various perspectives of where we believe we are on our timeline.
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We Are Going To Dive Right Into It Folks
Iraqi Dinar RV & The $80 Oil Peg:
Iraq is the keystone. Deleting the three zeros was said to require the Clarity Act to codify the asset-backed status into US law, preventing the Cabal from legally challenging the revaluation through their once captured SEC and judiciary. But we know that not the case.
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MarkZ Disclaimer: Please consider everything on this call as my opinion. Be sure to consult a professional for any financial decisions
MZ: Andy joins us early, with talk of deleting zeroes I need to revisit an old topic today and cover the news in a hurry before Andy starts. Zester joins to wrap things up with Andy today.
THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY
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• XRP Price Before Law v 2.0 •
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KTFA
Tuesday Night Video
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This video is in Frank’s and his team’s opinion only
Frank’s team is Walkingstick, Eddie and Omar in Iraq and guests
Playback Number: 605-313-5163 PIN: 156996#
Thursday Coffee with MarkZ. 08/13/2026
Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
MZ: Customs agreements, WTO, and national sovereignty dominate Iraqi news. PapaDave couldn't join us this morning. Stacie talks health after the news.