Impacts of federal debt default could spread through Maine’s workforce, economy

The Maine Center for Economic Policy, a progressive advocacy group, estimates that more than 350,000 Maine residents receive Social Security, 105,000 receive federal veterans’ benefits and 88,000 receive food assistance.

It’s unclear how quickly or how broadly those benefits could be disrupted, but The Washington Post reported that the federal government might not have enough money in the first 10 days of June to cover the costs of Social Security payments, food stamps or Medicaid reimbursements to states.

Click here to read the full story, first published May 24, 2023 in the Portland Press Herald.