If the U.S. fails to make Social Security payments next month, low-income older people would face dire circumstances, experts and advocates tell ABC News.
impasse keeps Linda Stanberry, 76, dwelling on her worst fear: the loss of the home she has lived in for 48 years.
The federal government could fail to pay some of its bills as soon as June 1, Treasury Secretary Janet Yellen warned this week. If that shortfall interrupts Social Security, Stanberry would need emergency cash, she said. Stanberry is one of millions of low-income older Americans who rely on Social Security for almost the entirety of their funds. In all, roughly 1 in 7 Americans age 65 or older depend on the federal benefits for 90% or more of their income, Social Security AdministrationSpeaker of the House Rep. Kevin McCarthy speaks to members of the media after arriving at the U.S. Capitol, on May 26, 2023, in Washington, D.C.If the U.S.
"This could be absolutely disastrous," Peter Kempner, the legal director at New York City-based Peter Kempner Volunteers of Legal Service, who works closely with older adults in poverty, told ABC News.
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