The United States is incredibly close to reaching its debt limit, with some estimates putting the actual date close to October. If this happens, the government will not have any way to pay its bills, including paying for Medicaid and Social Security. When this has happened in the past, the government has passed legislation to lift the ceiling. However, if they fail to take action in time to raise the debt ceiling, many government programs like Social Security could be impacted.
If Congress does not take action, seniors could feel the effects. Failing to provide for our nation’s retirees would prove to be unpopular, however.
At NORA, we’re calling on Congress to put seniors first. We’re advocating for The COLA Act of 2021. This legislation would ensure that seniors receive a cost-of-living adjustment every single year.