Obama warns about ongoing debt showdown
President Barack Obama announced today that Social Security and other checks may not be sent out early next month if Congress fails to reach a deal on raising the nation?s debt ceiling.
Senior citizens in the region say they can?t decide if this threat is real or simply politics, but nonetheless they say it?s making them nervous.
In an interview with CBS News, the president said if Congress doesn?t vote to raise the national debt ceiling by Aug. 2, 70 million checks, including Social Security, veterans? and disability checks, will be in jeopardy.
Senate Minority Leader Mitch McConnel (R-Kentucky) is putting for a proposal to give Obama new powers to increase the nation?s debt limit on his own.