Obama: Social Security Checks Will Stop When Debt Ceiling Is Reached
President Obama warned today that Social Security checks will be in jeopardy if the debt ceiling is not raised by Oct. 17.
"In a government shutdown, Social Security checks still go out on time. In an economic shutdown - if we don't raise the debt ceiling- they don't go out on time. In a government shutdown, disability benefits still arrive on time. In an economic shutdown, they don't."
More than 57 million Americans receive monthly benefits from the Social Security Administration. Of which, almost 9 million receive Social Security Disability Insurance (SSDI) benefits based on their own work history. The average monthly check for retirees totaled $ 1,224 in September, while the average disability monthly check was $ 1,129.
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