Social Security recipients finally learned how much the annual cost-of-living adjustment (COLA) will be in 2024, thanks to the Social Security Administration's much-anticipated announcement earlier.
obligations if congress has not raised or suspended the debt limit by jun notes that even ne week, the treasury department is already going to be running at an extremely low level of resources based on the fact that $130 billion of payments to social security beneficiaries, veterans, is going to be made in the amount of $130 billion next week. now, i just spoke with a senior white house official to get their reaction to this new june 5th deadline. and the bottom line here is this doesn t altogether change the time line for negotiations. they are still operating on a very tight timeline. it gives them slightly more breathing room from that earliest possible date of june 1st. this official noted, look, they believe they are in the final stages of negotiations, and they believe they are on track to strike an agreement in time for that june 5th deadline. jeremy, stand by. melanie zanona is joining us from capitol hill right now.
the deadline. house speaker kevin mccarthy says it is positive when both sides are talking. gop negotiators like patrick mchenry worry as the deadline looms. i m not yet an optimist on us getting this resolved. we re in my view past what is a responsible deadline. if the u.s. hits the debt ceiling, the treasury runs out of money and the government may not pay workers and those owed benefits might not get checks. i represent a state in florida with the largest percentage of seniors in the whole country. obviously the massive cuts and the stoppage of checks to social security beneficiaries will be devastating to them. the social security cuts and the