This provision would prioritize spending on debt service and Social Security to give them both first-call on revenues in the event the debt limit is reached.
To limit risk in the event of an unexpected post-earnings pop, investors could pair the bought 50-strike put with a sold July 42.50 put, resulting in a bear put spread.
Following the collapse of a third of all American banks in 1930-33, the government set up an insurance scheme under which it guaranteed to repay depositors, up to a certain limit, in the event of bank failure.