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The White House has announced a new program to help seniors next year. In lieu of a cost-of-living increase in their monthly Social Security checks, the Obama Administration has asked that $250 checks be sent out to curb the soon to be outcry.
For the first time in years seniors will not get a cost-of-living increase inserted into the monthly checks. Last year the Bush Administration doled out a 5.8 percent increase to Social Security checks.
Responding to concern that is sure to cause hardship, the President has decided to address the issue head on. “Even as we seek to bring about recovery, we must act on behalf of those hardest hit by this recession,” Obama stated.
The White House’s proposal will cost the taxpayer an addition $13 billion and so far Obama has not stated where the money will come from. It worth pointing out that Social Security is set to expire in 2037.
Those receiving checks in 2010, include Social Security beneficiaries, railroad retirees, veterans and disability recipients totaling somewhere around $57 million.
For more stories; www.examiner.com/x-10317-San-Diego-County-Political-Buzz-Examiner
Comments
do you know nothing about Social Security? It's not "set to expire" - the issue is the funding into the future is problematic because the 'trust fund' is a fantasy, raided every budget by politicians of both parties.
And Obama has nothing to do with there not being cost of living adjustments - COLA is legally bound to certain economic factors and projections and, thanks to the recession that began under Bush, the math says 'No COLA for 2010.'
Bush didn't "dole out a 5.8 percent increase" - the MATH did.
What do you mean set to expire? SS is going to expire? No one will get SS after 2037?
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