what happens to social security if the debt ceiling isn t raised

The debt ceiling, an integral part of the U.S. fiscal policy, has recently become a hot topic of discussion among policymakers and economists. Many wonder about its implications, especially concerning Social Security. This article sheds light on the potential consequences for Social Security if the debt ceiling isn't raised. Understanding the Debt Ceiling Before delving into the specifics, it's essential to understand what the debt ceiling is. Established in 1917, the debt ceiling is a cap set by Congress on how much the federal government is allowed to borrow. It does not authorize new spending; instead, it permits the government…