WASHINGTON D.C. – In a conference call on Wednesday, Senator Charles Schumer warned that failure to reach an agreement on the debt ceiling debate could mean many social security recipients and veterans in New York State not receiving their checks.

He explained that the government will be receiving $170 billion in revenue this August but will have approximately 80 million checks to pay totaling over $300 billion. These payments include defense funds, salaries, entitlement programs, interest payments on debt and departmental expenditures.

Schumer said that the Treasury Department will have to prioritize these payments, but no matter what there would be 40-45 percent of bills that would go unpaid. He warned that seniors and veterans were at the greatest risk and even the smallest default could result in benefit checks being reduced, delayed or withheld.