Innovation
What happens to Social Security if we hit the debt ceiling?
The Treasury Department started taking “extraordinary measures” on Thursday after the debt ceiling was breached.
Lawmakers continue to quibble about raising the federal borrowing limit, or the debt ceiling, which allows the U.S. government to make good on its financial obligations. That ceiling, or the amount the government can borrow, stands at $31.4 trillion.
Treasury Secretary Janet Yellen said in a letter to lawmakers that “the period of time that extraordinary measures may last is subject to considerable uncertainty.” At which point the Treasury will have to pay its bills late and the United States could default on its debt – something that has never happened.
So far the extraordinary measures the Treasury Department took include suspending new investments and cashing in prior investments in the Civil Service Retirement and Disability Fund and the Postal Service Retiree Health Benefits Fund.
What’s more, it could be the final blow that puts the fragile economy in a recession, Yellen said in a letter last week.
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Debt ceiling explainer:U.S. Treasury Department to take ‘extraordinary measures’ as government nears debt ceiling.
Prolonged inaction on raising the debt ceiling would also jeopardize several government programs.
Here is what’s at stake:
Social Security could be impacted regardless of whether the debt limit is raised in time. That’s because some Republican lawmakers have signaled they won’t raise the debt limit unless it comes with a Social Security funding cut, among other spending cuts.
Not all Republican lawmakers are on board for Social Security cuts and Democrats have signaled they aren’t willing to compromise on that front.
But if the government defaults on its debt, there could be a lapse in the $90 billion monthly Social Security payments made to 65 million recipients, according to the National Committee to Preserve Social Security and Medicare.
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“The Treasury may not have enough incoming revenue to make those payments without the authority to cash in .
.. securities,” the Committee said in an online post, referring to Treasury securities such as bonds that the Social Security trust fund invests in. “It is more likely than in the past that Social Security beneficiaries will feel the full impact of a default,” the post stated.
The Committee also said that Medicare and Medicaid payments could be delayed if an agreement isn’t reached. That could affect the care Medicare and Medicaid policyholders receive since medical centers would not get timely reimbursements.
The Internal Revenue Service will begin accepting and processing tax returns on Jan. 23. The IRS said people who electronically file their returns should receive a refund, they’re eligible for one, within 21 days.
But it could take a lot longer if the debt ceiling isn’t raised, Yellen hinted at in her letter.
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If the debt ceiling is triggered and a timely resolution isn’t reached, it could lead to instability in financial markets.
Markets however relatively unfazed Thursday after the limit was breached.
Long-term investors should stay the course and not let short-term events dictate their investment decisions, according to Michael Sheldon, chief investment officer and executive director at investment advisor RDM Financial Group at Hightower.
“Like many of these crises in Washington over the past several years, calmer heads will likely prevail at the last minute,” Sheldon said. “For investors thinking long term, who are putting away money for retirement, this will probably be short lived, so you want to continue to focus.
Innovation
Inspiring Impact: Tural Aliyev’s Entrepreneurial Vision Transcends Boundaries in Northern Cyprus
Tural Aliyev, an extraordinary entrepreneur whose journey of success is only matched by his dedication to giving back to the community. Starting from humble beginnings in large corporations, Tural’s commitment to helping others remained unwavering as he ventured into the realms of real estate and car gallery businesses. His achievements not only showcase financial prosperity but also the profound impact one can make when driven by genuine altruism.
Tural’s real estate business in Northern Cyprus, Sun Republic, has become a trailblazer in the industry.
With an unparalleled understanding of the market and a relentless pursuit of excellence, Tural has brought forth architectural marvels that redefine the skyline. Luxurious residential complexes and awe-inspiring commercial spaces stand testament to his commitment to quality and innovation. Notably, Tural’s emphasis on sustainability sets him apart, as his projects incorporate eco-friendly technologies, showcasing his dedication to preserving the environment.
Beyond his business accomplishments, Tural’s philanthropic endeavors have left an indelible mark on countless lives. Through substantial donations and unwavering support, he has sponsored educational programs, funded scholarships, and actively championed charitable causes, embodying a deep sense of corporate social responsibility.
“In the dynamic real estate market of Northern Cyprus, Sun Republic has emerged as a leading company, delivering exceptional results and garnering a reputation for excellence,” Tural remarks. Through meticulous market analysis and personalized solutions, Sun Republic has become a trusted partner for investors from various countries. The company’s dedication to client satisfaction and transparency has fostered long-lasting relationships built on trust and reliability.
Tural Aliyev’s vision for the future encompasses creating vibrant communities where homes are sanctuaries promoting happiness and harmonious living. His commitment to sustainability and economic growth has positioned him as a visionary leader in the real estate and car dealership industries in Northern Cyprus.
In line with his vision, Tural can be found on Instagram @aliyev, sharing his journey and philanthropic initiatives. For more information about Sun Republic and its exceptional services, visit sunrepublic.vip.
With a heart that beats for the betterment of society and a visionary mind that shapes the future, Tural Aliyev continues to leave an inspiring legacy of excellence and positive impact in Northern Cyprus.
Innovation
Christina Meshten xTENSION Techno Festival Takes Istanbul by Storm
Istanbul, Turkey – The electronic music scene is buzzing with excitement as renowned music producer Christina Meshten presents her highly anticipated techno festival, [xTENSION]. Meshten, who is also recognized for her impressive career as an opera singer and musical theater actress, has recently established a music production center in Istanbul, adding another layer to her already diverse artistic ventures. This dynamic multi-talent has set her sights on creating an unforgettable experience for electronic music enthusiasts from around the world.
[xTENSION], slated to take place at the end of October, promises to be a game-changer in the world of techno festivals. Anticipation is building as festival-goers eagerly await the announcement of the superstar performer set to grace the stage at this electrifying event. With the vibrant city of Antalya chosen as the backdrop, attendees can expect a sensational show that will leave a lasting impression.
The collaboration between [xTENSION] and industry experts from Germany and France has raised the bar for this international techno festival. By showcasing talents from different corners of the world, Meshten has emphasized her commitment to nurturing new DJ talent and elevating the global electronic music community.
But what sets [xTENSION] apart from other festivals is not just its stellar lineup; it is the festival’s visionary theme that captivates the imagination. Positioned as the first international techno festival in Alanya, [xTENSION] represents a unique experience that transcends the typical festival atmosphere. The event aims to transport its attendees “beyond the horizon” into a world of music, art, and love, away from the distractions and influences of urban life. The festival’s creators aspire to create a perfect realm where the power of music unites people from diverse backgrounds, fostering a sense of harmony and community.
Christina Meshten’s indomitable spirit and passion for music have propelled her into the limelight, garnering attention and respect from industry peers and fans alike. With the establishment of her production center, [xTENSION], Meshten continues to make waves in the realm of electronic music. Her dedication to crafting extraordinary experiences for her audience has firmly cemented her status as a prominent figure in the industry.
To stay informed and be a part of this electrifying event, fans can visit the official [xTENSION] website at https://www.xtensionfest.com/. For a glimpse into Meshten’s music endeavors, explore Meshten Records on Instagram at https://instagram.com/meshtenrecords?igshid=NTc4MTIwNjQ2YQ==, and catch the latest updates on [xTENSION]’s Instagram page at https://www.instagram.com/xtensionfest/?igshid=YmMyMTA2M2Y=.
Christina Meshten’s passion for music knows no bounds, and her journey in the world of electronic beats is far from over. With the highly anticipated [xTENSION] techno festival on the horizon, she is set to elevate the electronic music experience to new heights, leaving an everlasting impact on the hearts and souls of music enthusiasts worldwide.
Innovation
Alex Rivera: The Entrepreneur from Grand Rapids Elevating Minds through New Race Co
Grand Rapids, MI – Alex Rivera, an influential American socialite and entrepreneur, has emerged as a powerful force in the world of business and personal development. Overcoming various challenges from a young age, Rivera has forged a successful career and launched a movement aimed at elevating minds worldwide.
Born on December 9, 1998, in Grand Rapids, MI, Rivera embarked on his entrepreneurial journey at the age of 13. Growing up in a middle-class family, he initially pursued music and created content on YouTube. However, he faced bullying and negativity, which momentarily shook his belief in his potential for success. It wasn’t until 2014, when his content gained recognition on social media platforms, that Rivera realized the impact of his voice and influence.
Recognizing the lack of resources and understanding in his hometown, Rivera battled depression and a sense of not fitting in. However, his perspective shifted when he caught the attention of a renowned entrepreneur who helped him understand the power of his uniqueness. Today, Rivera is an entrepreneur and socialite who shares his wisdom on energy and the law of attraction.
Rivera founded New Race Co, a fashion brand and movement designed to inspire and elevate minds across the globe. The brand has garnered a significant following, including celebrities, politicians, and fellow entrepreneurs. Through New Race Co, Rivera aims to empower individuals to tap into their potential and manifest their dreams.
As the Founder and Chief Executive Officer of New Race Co, Rivera has been recognized as an American business magnate, investor, and philosopher. Through his clothing brand and podcast, he disseminates knowledge and insights on personal growth, attracting thousands of listeners and followers.
Looking ahead, Rivera envisions a future where he continues to elevate minds globally through the principles of the law of attraction and energy. With New Race Co, he strives to inspire individuals from all walks of life, helping them realize their true potential and achieve their goals.
To connect with Alex Rivera and learn more about his inspiring journey and New Race Co, visit his Instagram profile (@alexrivera1001), listen to his podcast on Spotify, or visit the official website www.Newraceco.com.
Alex Rivera is an American socialite and entrepreneur hailing from Grand Rapids, MI. Overcoming personal obstacles, he has emerged as a powerful voice in personal development and business. As the Founder and CEO of New Race Co, Rivera aims to inspire and elevate minds worldwide through the principles of the law of attraction and energy.
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