WASHINGTON D.C. – In a conference call on Wednesday, Senator Charles Schumer warned that failure to reach an agreement on the debt ceiling debate could mean many social security recipients and veterans in New York State not receiving their checks.
He explained that the government will be receiving $170 billion in revenue this August but will have approximately 80 million checks to pay totaling over $300 billion. These payments include defense funds, salaries, entitlement programs, interest payments on debt and departmental expenditures.
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