Factbox: Which big payments could the U.S. miss if it runs out of money?

By Jason Lange

WASHINGTON (Reuters) - The U.S. Treasury has said it will hit a $16.7 trillion debt cap by Thursday, putting the nation on course for a potentially calamitous default.

When it hits that limit on its borrowing, the Treasury estimates it will have about $30 billion on hand. It would rely on that cash cushion and incoming revenue to pay its bills.

The money, however, would quickly run out if Congress does not act soon to raise the debt ceiling. America would begin to miss payments sometime between October 22 and the end of the month, according to the Congressional Budget Office.

Following are the dates and amounts due for some of America's biggest bills, as estimated by the CBO, the Bipartisan Policy Center and the Treasury Department.

October 17

- Debt payments of about $120 billion

October 23

- $12 billion payment to the Social Security pension program

October 24

- Debt payments of about $93 billion

October 28

- $3 billion in salaries for federal workers

October 30

- Payments of $2 billion for Medicaid program, which provides health benefits to the poor and disabled.

October 31

- Debt payments of about $150 billion

November 1

- About $67 billion due for Medicare health insurance for the elderly, Social Security benefits and the pay and benefits due to active duty soldiers and veterans

(Reporting by Jason Lange; Editing by Paul Simao)

Source: http://news.yahoo.com/factbox-big-payments-could-u-miss-runs-money-174607617.html
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