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No Social Security Increase in 2010
Can giving $250 to 57 million seniors, veterans, and people with disabilities help ease the pains of the recession? Obama urged Congress to approve a one-time payment to Social Security recipients as a way of helping "those hardest hit by this recession." Because Social Security increases are pegged to inflation, which was negative this year, this would be the first time since 1975 that recipients have not received a cost of living increase. Predictably, seniors' groups welcomed the proposal, which would amount to about 2 percent of the benefits of an average Social Security retiree, while Sen. Judd Gregg (R-NH) called the program "inappropriate." Obama said the program, which would cost $13 million, would not further erode Social Security's finances, although he did not offer alternatives to finance the program.
DeliaK
Will the senior republicans give back the money because it's not approved by the CBO or the GOP?
Plantagenet
Where does the money come from?
It comes from Obama's "stash."
Nhalliday
Sure, this is lousy and every penny helps, there is no denying that...I am the very first to admit that, but thanks to the Ticket to Work program and J.Lodge, an Employer Network for Social Security under the Ticket To Work Program, it isn't quit as painful as it might be. So many people don't realize that they can be on SSDI and still work without losing benefits, and that has made such an enormous difference for me - finacially, emotionally and psychologically. For more information visit http://www.yourtickettowork.com then check out the job opportunities at J.Lodge by going to http://www,jlodge.com/careers/ There are opportunites available for Technical Analyst, Non Technical Analyst and Customer Service Specialist positions.
mcmchugh99
We're in a depression here, which means there is no inflation. Deflation is the real danger today.
devilsadvocate
There is not as much inflation today as far as prices are concerned, but the value of the dollars is being diminished due to the trade deficit and the Fed pumping money into the system. The Dow hit 10k not bc things are getting better, but bc the unit of measure is decreasing in value.
mcmchugh99
It a depression, it's normal to devalue the currency to try to stimulate the economy. FDR did that in the 1930s when he took the US off the gold standard. EVERYONE did it in the 1930s, for that matter.
devilsadvocate
The currency has been devaluing for the better part of the decade, if not more, and bc of that I don't buy the argument that they're intentionally doing it now for the better. The Dow hit 10k yesterday and was worth 10 ounces of gold, compared with when the Dow hit 10k over 10 years ago and was worth 40 ounces of gold.
Today, inflation is not an accurate measurement, at best, and flat out false, at worst. It's calculations are adjusted and manipulated for other reasons.
oliverckerr
Very astute observation, that the DOW hit 10K but gold went through the roof. These CEO's awarding themselves obscene amounts of money reflects the idea that in six months ten million dollars could be worth only 4 .9 million.
When the Chinese feel strong enough it will happen fast. A stick of gum will sell for more tha a dollar.
michaelslevinson.com
oliverckerr
Hey! I need that $250! I am oh el de
politico83
We should leave this alone. I have no idea why a 250 dollar payment to make up for....nothing makes any sense at all. It is good that we don't need to raise social security payouts, we're behind as it is. If people over 65 want more money they're free to seek employment or do odd jobs just like the younger set has to.
I can think of at least 18 billion better things to do with the tens of billions giving 250 to every old person would cost. The best one? Not pissing away money through deficit spending for a hand out to the old just because they vote more.
It's pretty simple, you spend money on investments that are good in the future (IE children and the under 60 set) not investments that were good in the past. We could pay for 1,800,000 college students to go to a public college with no student debt so they can be productive for 50 years (and pay into the social security fund at a higher rate) and instead we spend the money on one time handouts to the elderly because they vote more? Pathetic self interest driven politics from our vote hungry congress yet again, thanks a lot guys.
Konstantin
Part of the reason is of course to buy votes but seniors really do need an increase. It's just pathetic how seniors are disregarded in society today.
oliverckerr
I'm not voting for you! I need cat food, new pair of shoes, bus pass, bottle of vitamins, what else . . . I'm having a senior moment I'll think of sumpin
michaelslevinson.com
pulmanomancer
Math's wrong: the cost is $13 billion, not $13 million.
Plantagenet
Liberals can't do math.
Look at Obama...every time he boasts about balancing the budget he's making a two trillion dollar math error.
BlueMoose
We here in NH know that Judd Gregg is a GOP dittohead.
Plantagenet
Admit it: You want a free $250 from the taxpayers and you don't care about the deficit.
BlueMoose
It's not a free $250. I worked hard and paid a lot into the system to earn my Social Security check.
Plantagenet
The $250 wouldn't come from money you paid into the system.
Obama would have to borrow 13 billion from China---the 13 billion would be added to the deficit---and taxpayers will be paying for it for decades to come.
Thats how budget deficits work.
oliverckerr
I admit it.
michaelslevinson.com
diskipulo
It's not bad math, it's bad editing. Billion. Where's chowderhead when you need him?
winston1
This is a little token before you face the DEATH PANEL.
DeliaK
winston1, are you still on that fallacy? Paula Abdul is no longer on American Idol so that she can be a judge on the panel you mentioned. Ha!!!
oliverckerr
Deaf panel. It don't sound that bad with my hearing aid turned off. Sign what?
michaelslevinson.com
Konstantin
That's an example of the government's priorities (even though the article quotes a GOP senator). When Wall St wanted money Congress jumped when Wall St said jump and gave them trillions of dollars, but now when seniors citizens who depend on Social Security need a "cost of living" increase well that's just too bad.
matthewbenzor
Obama better kiss some senior ass because its "not" going to pretty when grandma or grandpa can't afford christmas presents for grand kids..........!
DeliaK
EEEEEWWW, the imagery!!! I wonder how FOX will spin this?
distantdrum
Thanks obama. At least all of those wall street guys were able to get their multi million dollar bonus'. Us, who actually try to live on social security, will just take it on the chin. My utility company just got permission to raise our rates. We could hardly afford them last winter, and this one is expected to be colder. I'm hoping the Nobel Prize committee will notice that although I have meant well, I have also accomplished nothing this year. I could use the million dollar prize.
Plantagenet
Obama is cutting Medicare for seniors by 500 BIllion..... giving seniors 13 billion is a cheap way to cover up his massive cuts to Medicare.
nortonclybourn
Poor Plant. He's huffing and puffing but nobody is paying attention to him. There there, Plant.
DeliaK
QUICK, check if he has insurance. Oh, he doesn't?! Too bad, guess he just has to die or maybe he could get some meds from winston1.
jojo12
Geez people, go easy on seniors. Social Security wasn't meant to be a retirement plan for Seniors & it was always stressed that people should save money for their old age. Unfortunately, there are quite a few seniors in this country who didn't make great salaries, couldn't afford to put money aside for their old age & are entirely dependent upon their Social Security checks to get by on a month to month basis.
As for the bozo who commented here that seniors should go out & get themselves jobs, my question is where should a 70 80 or 90 go to get that job? Teenagers can't find jobs, yet you expect seniors to find jobs?
I love the people who keep screaming about the deficit yet want to continue waging war in Afghanistan. Where the hell do these people think the money to wage war comes from?
Plantagenet
The money to wage war comes from China in the form of loans, like the other two trillion dollars of deficit spending that Obama is doing.
njoy-d-ride
Lets make it like the Taliban do; harvest the poppies!
unclelew
The good old Republican way: Screw the sick, then screw the elderly. Don't forget to kick the poor on the way out.
Their motto: All for me, me for me, too.
But make sure Halliburton and Blackwater get paid first.
Plantagenet
The good old Democrat way: Screw the sick by destroying private healthcare, then screw the elderly by cutting Medicare. Don't forget to screw the poor on the way out by destroying millions of jobs.
The Democrat's motto: All for me, me for me, too.
But make sure Goldman Sachs and Government Motors get paid first.
njoy-d-ride
Have you two finished hosing down the deck with testosterone?
oliverckerr
that was fun
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