Guaranteeing Social Security and Medicare Payments Despite Debt Limit
This law aims to ensure that Social Security and Medicare benefits continue to be paid in full and on time, even if the national debt ceiling is reached. It authorizes the Treasury Secretary to issue special bonds specifically to fund these programs, protecting millions of beneficiaries from potential payment delays or interruptions. This measure provides greater financial security for seniors and disabled individuals.
Key points
Guarantees timely and full payment of Social Security (retirement, disability) and Medicare health benefits.
Authorizes the Treasury to issue special debt obligations solely to cover the costs of these two programs.
This specific debt issued for benefits is temporarily excluded from the general national debt limit until Congress raises the ceiling.
Expired
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