$250 payments to Social Security recipients

The Alliance applauds President Obama’s 2010 budget proposal to provide $250 payments to Social Security recipients.  Such relief comes at a time when Social Security beneficiaries will not be receiving a normal cost-of-living adjustment (COLA) because of a formula that forbids adjustments during times of negative inflation.  Without a COLA, many of America’s seniors will find it even more difficult to purchase basic necessities, heat their homes and pay for their medications. 

About 1/4 of our nation’s seniors rely on Social Security as virtually their only source of retirement income and the average Social Security benefit is approximately $12,500 a year.  The President’s budget proposal will support America’s seniors during these critical times by providing Social Security beneficiaries with the equivalent of a 2% increase in benefits.

We also urge Congress to work to provide much-needed economic relief to older Americans who are struggling to make ends meet during these difficult times. 

Comments

[PatrickJ]

And will someone PLEASE tell me: WHEN are we supposed to receive this payment?

[Mary E.Shaw]

WE SENIORS NEED A COST OF LIVING RAISE IN OUR SOCIAL SECURITY EVERY YEAR LIKE WE DID BEFORE OBOMA.