Military troops around the world are wondering whether the debt situation will affect their paychecks. Our nation's top two military leaders recently responded to the question, "Will we get paid?"
In its piece Troops ask amid debt crisis: Will we get paid, msnbc.com reports that Adm. Mike Mullen told the troops, "I honestly can't answer that question." Adm. Mullen was speaking to troops at Kandahar air base in southern Afghanistan.
In similar news, Defense Secretary Leon Panetta has reminded troops that they are still obligated to work. In a message released Friday, Secretary Panetta stated, "I am sending this note to remind you that Department of Defense personnel should plan to come to work next week, as scheduled, at their normal place and time."
These two statements represent the first time that military leaders have verified that military pay could be affected by the government debt impasse. Thousands of military families, including the families of deployed service members, live paycheck-to-paycheck and late pay will create very real disasters for these families.
Many military banks are offering their customers interest-free advances on at least the first missed active duty paycheck. Many banks are also planning strategies for other customers who receive federal benefits.
I will keep you updated as more information becomes available.
This post is cross-posted at The Paycheck Chronicles.