October 14, 2009
Obama Seeking $250 Payments for Seniors
President Calls on Congress to Approve Payments to More than 50 Million to Make up For Lack of Social Security Increase
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President Obama is seeking a $250 boost for seniors. (AP Photo/Alex Brandon)
The White House put the cost at $13 billion. The Social Security Administration is scheduled to announce Thursday that there will be no cost of living increase next year. By law, increases are pegged to inflation, which has been negative this year.
It would mark the first year without an increase in Social Security payments since automatic adjustments were adopted in 1975.
"Even as we seek to bring about recovery, we must act on behalf of those hardest hit by this recession," Obama said in a statement. "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's proposal is similar to several bills in Congress. The $250 payments would also go to those receiving veterans benefits, disability benefits, railroad retirees and retired public employees who don't receive Social Security. Recipients would be limited to one payment, even if they qualified for more.
The payments would match the ones issued earlier this year as part of the massive economic recovery package enacted in February. Several key members of Congress have said they are open to providing relief to seniors to make up for no increase in Social Security payments.
"We're looking at a way to address it," said Sen. Max Baucus, D-Mont., chairman of the Senate Finance Committee, which oversees Social Security. "I'm not sure what the exact answer is yet, but we're looking at ways to address that."
Rep. Charles Rangel, D-N.Y., chairman of the Ways and Means Committee, which has jurisdiction over Social Security in the House, said he supports the $250 payments.
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- NIce the rich get money from our taxes and that ok and fine but give a few bucks to those who need it and the Rep. get all flustered. Where is the Reps frugality when big biz get our taxes? If they were in my shoes they would be all for the $ help too. They just can't stand the fact that the Dems won and nothing the Pres does will be good in their eyes.
Bush cost us our young men and womens lives waisted on a war started from a bunch of lies If Mccain won we would be "bombing" Iran in another war so which is less painful price $ or human lives?
President Obama won and is now doing what he said he would so why is everyone surprised now when he is only doing what he was elected to do. Just as many people think he is doing a good job as those who think he is not.
Most of those who aren't happy now arent likely to be in need of any thing and well off. They just cant stand someone getting a penny of their millions. - Reply to this comment
- I think that the $250 is a great idea, after which Obama should push for a COLA increase and then follow that with another $250 or $500.
I did not vote for Mr. Obama, nor will I have to pay down the cost of the many wealth re-distribution programs he and his band of merry socialists are generating, I?ll be too old or long dead.
Those under forty (regardless of race, religion or sex) in this country voted overwhelmingly for a man without a shred of experience...they should and will have to pay for it.
Hurrah, keep the checks coming thank you young American voters. - Reply to this comment
- I wish there was a way for us seniors to ask for the money we paid into Social Security back in one lump sum. You see this system is based on the concept that those that pay into it are currently paying for the previous generation who is now receiving benefits: there lies the problem the current generation is way too selfish to want to pay for the us, who having paid all our working life, are now receiving benefits.
The ME NOW! ME FIRST! generation of today is incapable of such defered gratification, so give us back OUR money and let see what you do when your are 67 years old and incapable of working.
$250 in lieu of an increase in benefits is about a 1% increase: too much apparently for the whinners of today!
Until and unless we can regain our national, Christian, sentiment of selflessness and service to others we will not be able to reclaim our place in the list of great nations. God help us! - Reply to this comment
- by GGrimaldi October 14, 2009 10:48 PM EDT
Mainly because we've already paid it, the funds should be able to support it and your big proposal is to rob those funds we've already paid to get it, so that LOSERS who won't even contribute to an insurance plan are covered. Fifteen MILLION of them who have never paid a dime into the system in their lives.
BS. The seniors that are collecting on Medicare today, paid into the BASIC COVERAGE system. The supplemental Medicare insurance is EXTRA coverage, above and beyond what you've paid into, and we - the NEXT GENERATION - are paying for it!!
http://blog.american.com/?p=4053
You seniors are greedy, and you want something that you DIDN'T EARN, even if it takes money out of the system for future generations. You paid for BASIC medicare coverage, and that's ALL that you should be collecting.
You want supplemental medicare insurance? Then bust open YOUR OWN WALLET! - Reply to this comment
- by GGrimaldi October 14, 2009 7:52 PM EDT
Oh, wow, thanks Obama, that will about pay for one months AARP supplemental insurance we're going to have to pay if your gutless wonder health care debacle gets passed...
Wow! Wow! Wow!
Why don't you pay for your own supplemental insurance?
Why do you think that us working Americans should be forced to foot the bill for your EXTRA coverage, when we're already paying for the basic coverage? - Reply to this comment
- "The trouble with Socialism is that eventually you run out of other people's money" - Margaret Thatcher
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- "The American Republic will endure until the day Congress discovers that it can bribe the public with the public's money."
-- Alexis de Tocqueville, Democracy in America, 1835 - Reply to this comment
- The cost of living adjustment for Social Security is tied to the Heating Oil prices.These C.O.L. are set in January of the previous year.
The President has nothing to do with the freeze. - Reply to this comment
- I have noticed it said that this will do no good. What it might do is to help the lower end SSI recipients pay their heating bill this winter...maybe. That would be good.
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- Ah yes hedging his bet, must have a weak hand. That 250 dollar will come back to democrats a thousand fold born on the backs of children.
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- Were Congress to approve this measure...I would receive it. BUT, are you listening ??? I DON'T WANT IT !!!! I (we) understand that there was no increase...because of our problems with the economy . At some point we just have to stop this madness.....stop spending....stop spending.....
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- by californiadreaming October 14, 2009 5:02 PM EDT
Sorry, but this is not really going to help anyone in the long run - and its just cranking up the debt. Obama is really buying votes with the elderly - as he has lost many potential elderly votes with his recent health care proposals.
Just work on the economy, President Obama, and stop giving away taxpayer money that isn't there to give!
Uh...what about the BILLIONS given to foreign countries in the form of "aid"??? Where do you think that money comes from? How about finally taking care of "our own" first? - Reply to this comment
- It's getting where you can't even help an old lady cross the street without the Nutjobs unleashing their hate!
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- Let's see, seniors opposing the medicare cuts in the health care reform, let's throw them a bone...really not much of a bone, but a token anyway. When will it stop!
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- "O" NO Obama's at it again!
Don't think we "banked" on this change! - Reply to this comment
- For a president of the US this guy has no clue. Where does this money come from, what good is 250.00, with allthe other taxes he is adding. Looking for votes no doubt, one hand takes it and the other gives a little back.
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- Looking for votes you say? You mean like the insurance lobbys paying billions to Congressional members looking for votes against healthcare reform?
- by stuart-johns2 October 14, 2009 5:24 PM EDT
Looking for votes you say? You mean like the insurance lobbys paying billions to Congressional members looking for votes against healthcare reform?
The sad thing about that, is I am sure they are also trying to pay off democrats, but you think it is ok
- Sorry, but this is not really going to help anyone in the long run - and its just cranking up the debt. Obama is really buying votes with the elderly - as he has lost many potential elderly votes with his recent health care proposals.
Just work on the economy, President Obama, and stop giving away taxpayer money that isn't there to give! - Reply to this comment
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- What's this. The republicans newest diversion - let's bash Obama on the economy, specifically jobs? I knew it would come to that. I thought either that would be the extremists next target or energy policies.
Why don't you guys just admit that no matter what Obama does you'll be against it? That's the truth.
- by stuart-johns2 October 14, 2009 5:27 PM EDT
What's this. The republicans newest diversion - let's bash Obama on the economy, specifically jobs? I knew it would come to that. I thought either that would be the extremists next target or energy policies.
Why don't you guys just admit that no matter what Obama does you'll be against it? That's the truth.
Actually, if you were to listen to law makers you would know that is not the truth. But instead of listening to those in congress you decide you want to live in a fantasy world where you think you know more than what you really do
- What's this. The republicans newest diversion - let's bash Obama on the economy, specifically jobs? I knew it would come to that. I thought either that would be the extremists next target or energy policies.
- Mr President: I voted for you and still support you, but enough is enough. It's not proper nor polite to print money for the sole purpose of 'paying' bills. The freeze in SS was designed to help balance the budget, not break it again and again. And again. Enuf !
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- Printing money out of thin air, to give it away. If the people of this nation actually support this idea, then I guess we'll deserve whatever we get.
Which will be catastrophic, make no mistake. - Reply to this comment
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- I support it, and welcome the consequences. The inflation measurements used to gauge social security increases need to be adjusted to reflect the cost of things seniors actually buy.
In case you missed it, those seniors built the country you live in today.
- eightsigma, I'm glad for your honesty.
Now go out and get some credit cards with your grandchildren as co-signers, charge them to the max and then just let your grandchildren pay the balance.
- "by eightsigma October 14, 2009 5:51 PM EDT
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In case you missed it, those seniors built the country you live in today"
I didn't miss it, and I don't care. These "proud" seniors are WHINING for Mommy government to take care of them, like a bunch of screaming babies. They all ought to be ashamed of themselves, and you would be too, if you had the brain power to understand what the constant borrowing and printing of momey is going to do to our economy.
- I support it, and welcome the consequences. The inflation measurements used to gauge social security increases need to be adjusted to reflect the cost of things seniors actually buy.
