No money to pay troops if debt ceiling deal doesn’t happen, defense secretary warns
By Meghann Myers
Oct 6, 11:55 AM
If the U.S. defaults on its loans, the Defense Department may not be able to pay troops or millions of other beneficiaries, Defense Secretary Lloyd Austin warned Wednesday.
Since reaching the allowable limit for debt back in July, Congress has not been able to reach a deal to raise the so-called debt ceiling, which would allow the U.S. to not only continue paying those debts, but funding the rest of the government.
“If the United States defaults, it would undermine the economic strength on which our national security rests,” Austin wrote in a statement. “It would also seriously harm our service members and their families because, as Secretary, I would have no authority or ability to ensure that our service members, civilians, or contractors would be paid in full or on time.”
On top of current service members, DoD also wouldn’t be able to pay 2.4 million retirees, 400,000 Gold Star families and thousands of federal contractors, he added.
https://www.militarytimes.com/pay-benefits/mil-money/2021/10/06/no-money-to-pay-troops-if-debt-ceiling-deal-doesnt-happen-defense-secretary-warns/
