If your SS is electronically deposited, you'll get your money.

[Kaleva]

Those who receive a regular check in the mail however may see a delay because the people who work at the SS Administration and the US Postal employees who deliver the checks are paid out of the general revenue fund.

The SS fund is right now running at a surplus and is not part of the general revenue fund so the money is there. However, if there were to be a govt. shutdown, those who receive regular checks may be affected as explained above.

Here is a more detailed explanation of what may happen in a govt. shutdown in regards to Social Security:

""The president was pointing out some of the consequences, the potential consequences of failing to act, of failing to prevent a shutdown," Carney said. "And some recipients, new retirees, new applicants might not receive their checks. If retirees have questions about their checks, if they didn't get their check in the mail, if they had a change of address, all those things could prevent them from getting their checks. So there are, obviously, consequences that directly affect people who are recipients of Social Security benefits.""

http://www.politifact.com/truth-o-meter/statements/2011/feb/24/barack-obama/barack-obama-says-if-theres-government-shutdown-so/

[Kaleva]

1. No comments but at least I'm getting some recs!

[elleng]

2. Thanks. Nothing like 'true facts.' Makes sense.

[Roselma]

3. I think there is a difference now.

That article is regarding the government shutdown during those budget debates. This current situation is about the availability of funds to actually cover the checks that are written. Can the treasury simply cash a bond from the SS trust fund and use that to pay out SS benefits if the treasury doesn't have to money to pay to cash the bond? There have been transfer payment between funds since May when we topped the debt ceiling. I'm not sure there's money to transfer around in order to pay SS.

http://www.treasury.gov/connect/blog/Pages/secretary-geithner-sends-debt-limit-letter-to-congress.aspx

[bahrbearian]

7. While still collecting FICA money ?

[pinboy3niner]

11. That's right--big difference. This isn't a government shutdown.

As the President put it, the government can't cash out SS bonds if it has no funds in the 'coffers' to pay and borrowing is prohibited by the debt ceiling.

Of course, the govenment DOES have a choice about WHAT obligations are paid, and SS does not necessarily have to be one of the obligations that goes unfunded.

[21st Century FDR]

4. My guess is that direct deposit isn't a big percentage of this demographic

There are a lot of technophobic older folks out there, some of whom are still afraid of cash machines and debit cards, let alone direct deposit.

[Raschel]

8. Maybe not. Many retirees have had their paychecks deposited electronically when they were working.

It's nothing new for a lot of people. Plus, you have to consider the younger disabled as well.

[Big Blue Marble]

10. The Government strongly urges beneficiaries

to do direct deposit, I would guess most do. Plus there was a real problem with the checks being stolen.
So that was a real incentive for people to have them direct deposited.

Frankly your comments sound a little agist. How is direct deposit scary? The money just appears in your
account. You do not have to drive to the bank in bad weather or anything, very convenient when you are are older.

[murielm99]

12. My husband just went on SS in March.

His check is deposited electronically. I think they told him to do it that way. He was not given an option.

Of course, that was fine with him. Why not do it safely, and save a step?

Maybe all new retirees are having their SS checks deposited electronically. It is not that big a deal.

[ohheckyeah]

14. I disagree. Most of the 'older folks' I know

not only have direct deposit but they pay bills online, use cash machines and debit cards and other newfangled things like DVRs and cell phones. My parents are 84 and even have their own Facebook page.

Gheesh.

[21st Century FDR]

15. Could you give me their phone number?

I'll pass it on to my parents so they have someone else to call every time they need to program a VCR (yes, they still use one) or look up something online.

They actually have managed to figure out the cell phone though, which actually surprised me.

[ohheckyeah]

16. It wasn't easy to get them to the point they are.

It took many phone calls until I finally did up cheat sheets for them. I used screen shots and printed them out so they could actually see what to do and it helped them to remember.

My dad still says "I'm sending so and so a wire" when he means email. He was a railroad man and for some reason emails make him think of telegraphs. His ability with electronics, or should I say lack thereof, is a family joke. My mom is very proud of herself when she posts a picture on Facebook or does something new on the computer.

They're so cute at this age. ;-)

[Kaleva]

17. Everytime the power went out, I had to reset the clock on my Dad's VCR.

He couldn't stand to see it flashing "12:00" and he never could figure out how to set it on his own. Finally, he just put a piece of tape over it and that solved the problem.

[MannyGoldstein]

5. This is a lie

Or so I was assured earlier today:

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=433x708647

[bahrbearian]

6. Sad when our leader thinks its OK to lie and scare people.

[Kaleva]

9. I was wrong about SS running a surplus this year. It's in the red.

Earlier I had read several articles saying SS revenue exceeded expenditures. However, I just read another article that said while on paper it shows a 72 billion surplus, that includes interest paid on money borrowed out of the Social Security Trust Fund. Take away that interest payment and SS is running a 45 billion dollar deficit this year.

"The key to understanding what’s going on now is a Congressional Budget Office document that shows the flow of money in and out of the Social Security funds. Becerra looks at this document and sees income of $805 billion and total outgo of $733 billion, for a surplus of $72 billion.

But another part of that chart shows what it calls “primary surplus.” That line item shows a deficit in 2011 of $45 billion. Becerra dismisses that figure, urging a look at the footnote: “Primary surplus is the surplus excluding interest paid to the trust fund.”"

http://www.washingtonpost.com/blogs/fact-checker/post/social-security-and-its-role-in-the-nations-debt/2011/07/11/gIQAp1Wl9H_blog.html

http://www.cbo.gov/budget/factsheets/2011b/OASDI-TrustFunds.pdf

Edit: So a govt. shutdown may have more impact on SS payments then just what was discussed earlier as there may not be enough funds to cover all expenditures. The shortfall isn't much compared to the entire budget (6%) but it still something to be concerned about.

[bahrbearian]

13. I weep

[Abq_Sarah]

18. Postal employees

Are paid by the USPS, not the general revenue fund. They're self funded.

[PoliticAverse]

19. This was about a 'government shutdown' which is _not_ the same thing as the coming debt limit issue.