Thread: Obama wants $250 payments for seniors to offset no COLA

Obama wants $250 payments for seniors to offset no COLA next year

The Social Security Administration set to announce tomorrow that no cost-of-living allowances will be paid next year, so to offset that, President Barack Obama called on Congress today to approve $250 payments to more than 50 million seniors. The White House estimates the cost at $13 billion.

It will be the first time since automatic adjustment were adopted in 1975 that annual increases — pegged to inflation — will not be paid.

The one-time payments would also go to people receiving veterans benefits, disability benefits, railroad retirees and retired public employees who don't receive Social Security. Congress is already considering similar plans.

Obama said the payments cannot come from the Social Security trust funds, the Associated Press writes.

Posted by Michael Winter at 06:44 PM/ET, October 14, 2009 in Economy, Nation, Washington

http://blogs.usatoday.com/ondeadline/20 ... -year.html

WHY, how big of him! How about no COLA for the Senate? We'd hear screaming all across America.

Using tax-payers money to buy support from the seniors for his health care plan? This carrot on the end of a stick will not fool many; for, they will quickly see that this 250.00 will not amount to much with real inflation and would be better off with the usual COLA. Carter did the same to us in the Military in 1979; however, we didn't get any carrots!

would be better off with the usual COLA.

The Social Security Administration has already ruled that there will be no COLA increase this year, so $250 is better than nothing.