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Obama proposes one time payment to SS Recipients-stagnant economy

by albertacowpoke | October 15, 2009 at 03:47 am

201 views | 34 Recommendations | 12 comments

Due to the down turn in the economy, there will be no Cost of Living Allowance (COLA) this year for Social Security recipients.

President Obama tried to preempt an announcement that there would be no increase for the first time in three decades. He encouraged Congress to provide a one time payment of $250 to recipients yesterday.

This proposal would cost $13 Billion.

While the Administration is trying to take preemptive action to extend Unemployment benefits and funnel money to small businesses in constituencies that are hurting, it is also trying to avoid another stimulus package. Another stimulus package, no doubt would prompt adverse reaction from critics.

The funds required to handle the one time payment to Social Security recipients would be taken from the original stimulus package. Those funds were originally targeted to bail out large corporations.

President Obama on Wednesday attempted to preempt the announcement that Social Security recipients will not get an increase in their benefit checks for the first time in three decades, encouraging Congress to provide a one-time payment of $250 to help seniors and disabled Americans weather the recession.

Obama endorsed the idea, which is expected to cost at least $13 billion, as the administration gropes for ways to sustain an apparent economic rebound without the kind of massive spending package that critics could label a second stimulus act

Many, including President Obama, the AARP and the Social Security Administration itself, are calling for Congress to approve a $250 stimulus payment to older Americans and other groups, including veterans and those receiving disability benefits, to compensate for the lack of a COLA.

"This additional assistance will be especially important in the coming months, as countless seniors and others have seen their retirement accounts and home values decline as a result of this economic crisis," Obama said.

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Roy C

at 07:52 on October 15th, 2009

The Senior are angry about ObamaCare? Well, then, buy them off!

albertacowpoke

at 07:59 on October 15th, 2009

Thanks for your comment Roy.

Hugh Askew

at 08:02 on October 15th, 2009

Doggone right, costs him (ooop, the taxpayer) a few bucks, but buy them votes.

That said, there won't be one in a thousand, that refuses the money.

albertacowpoke

at 08:29 on October 15th, 2009

Probably not, would you? It's just a rebate of your taxes.

nanute

at 09:54 on October 15th, 2009

I'm sure all them teabaggers on SSI will be sending back the money.

Hugh Askew

at 11:03 on October 15th, 2009

Not me, i took it when Bush handed it out, i'll take it if Obama does the same. 'Course, i'm far, far, too young for SSI.

Roy C

at 09:59 on October 15th, 2009

Hey, Nanute. How about cleaning up your language a bit? "Teabaggers", you damn well know is an offensive term.

nanute

at 12:53 on October 15th, 2009

It's not my term. Getting a little PC here, aren't we? What shall we call them?

generaldecay

at 12:59 on October 15th, 2009

Roy is right. Please don't use crude language on NP. There's a vast difference between being PC and being downright offensive. Thank you.

jefhow22

at 16:31 on October 15th, 2009

I'll never look at a cup of tea in the same light....what do I do with the thing that is holding the tea leaves?

Roy C

at 13:00 on October 15th, 2009

Tea bagging is when someone's balls descend upon your face, no? Some people don't know that.

OK, I was over-reacting a bit, but only the harsher opponents of the movement have been using this term.

"Tea party protesters" would seem better given the pejorative sense of the term.

Really, though, the important thing for, let us call it, healing in the nation would be to understand that they were not just a bunch of ignoramuses being led around by the nose by various Glen Beck types.

With only 43% of people saying that they would vote for Obama in 2012, something is amiss.

QueensHart

at 16:24 on October 15th, 2009

I can assure you it is not the tea party protesters that are on Welfare. This administration came in with their vote.. The Democrats always get the vote of all people who do not work and a few educated who know how to advertise for the elite...hoping they can kiss their buts for a job around the throne. I would say most far lefties ...I know there are some at the top who think handing out helps people but they will learn when they get older.