'Government Shutdown 2023: Social Security benefits - Understanding the impact'
US Government Shutdown Looms as Congress Races to Pass Budget; Social Security Payments Unaffected, but New Applications for Social Security Cards Will Be Impacted.
The deadline for the Senate and Congress to pass a federal budget is September 30, and if they fail to do so, it could result in a government shutdown. This prospect has left many individuals concerned about how it will affect their personal finances and day-to-day lives.
It's crucial to understand that Social Security payments will not be impacted by a government shutdown. Medicare benefits, as well as services provided by the US Postal Service, airport travel, customs and borders, and ports, should also remain unaffected. This means that most aspects of your daily routine should continue as usual.
Approximately 67 million Americans, with 90 percent of them being aged 65 or older, will still receive their Social Security packages. In 2023, these payments are expected to amount to around 1.4 trillion dollars. Congressman Dan Kildee has confirmed that Social Security recipients will continue to receive their cheques during a government shutdown.
However, new applications for Social Security cards will not be accepted or issued during this time. On an average day, about 60,000 Americans apply for these cards, which are often required for employment, loans, bank accounts, and other financial transactions. It's important to note that no Social Security cards will be issued during a shutdown.
Other consequences of a government shutdown include furloughs for non-essential federal employees, potential delays in government food benefits, and the possibility of national parks rejecting visitors.
Currently, the Republicans are the ones refusing to agree on a budget with the Democrats. They are demanding that the House Speaker initiate impeachment proceedings against President Joe Biden and are pushing for significant spending cuts. As the Republicans hold a slim majority, they have the power to exert pressure on the rest of the House.
Interestingly, despite the political divide, a majority of both Republicans (91 percent) and Democrats (89 percent) believe that the parties should collaborate to reach a budget agreement. However, the reality of the situation may prove to be more challenging.