Not a day, a WEEK!!!
I don't understand; BANKS got TRILLIONS!
Oh, yeah, and HE WANTS to BORROW the MONEY so TAXPAYERS have to pay interest to... BANKS!!!!
"Obama calls for $250 payments to seniors; Wants to make up for no increase in Social Security" by Stephen Ohlemacher, Associated Press | October 15, 2009
WASHINGTON - President Obama called on Congress yesterday to approve $250 payments to more than 50 million seniors to make up for no increase in Social Security next year.
The White House put the cost at $13 billion. The Social Security Administration is scheduled to announce today that there will be no cost-of-living increase in January. By law, increases are pegged to inflation, which has been negative this year....
Then WHY ARE PRICES SO HIGH?
Why is GASOLINE RISING?
Yeah, there WAS NO INFLATION but YOUR DOLLAR is WORTH LESS!
Either way, YOU ARE SCREWED, respected elder.
Obama’s proposal is similar to several bills in Congress. The $250 payments would also go to those receiving veterans benefits and disability benefits, as well as to 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 president said he would not allow the payments to come out of the Social Security trust funds, further eroding the finances of the retirement program. However, Obama did not offer any alternatives to finance the payments. A senior administration official said Obama was open to borrowing the money, increasing the federal budget deficit. The payments would match the ones issued earlier this year as part of the massive economic recovery package enacted in February.
Related: What the Senate Snuck Into the Stimulus While You Were Sleeping
That guy might even be better than Kennedy at getting budget-busting pork into bills.
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. Top Senate Democrat Harry Reid said he supports the payments, as did Representative Charles Rangel, chairman of the Ways and Means Committee, which has jurisdiction over Social Security in the House.
Notice how the LIBERAL Boston Globe IGNORES Rangel's ethics problems!??
Related: That Rascally Rangel
Yeah, if they had printed an article in my paper, I would bring it to you now, BUT!
Watch, it will make Slow Saturday tomorrow (then again, maybe not).
But other lawmakers said seniors shouldn’t get the extra payments because the formula doesn’t call for it. “I think it would be inappropriate,’’ said Senator Judd Gregg, a New Hampshire Republican. “The reason we set up this process was to have the Social Security reimbursement reflect the cost of living.’’
Yeah, WE JUST FUND BANKS and WARS around here!
Social Security payments increased by 5.8 percent in January, the largest increase since 1982, largely because of a spike in energy costs last year.
Yeah, they got a big cut last year so what are they complaining about!?
--more--"
Anyhow, ADD MORE $$$ to the INTEREST BILL to the FED, taxpayers:
WASHINGTON - The announcement yesterday that Social Security recipients will not get a cost-of-living increase next year could boost President Obama’s plan to send seniors another round of $250 payments before the congressional elections.
Democratic leaders in Congress have signed on to the plan, greatly improving its chances, even as some budget hawks say the payments are unwarranted and could add to the federal budget deficit. Republican leaders said they, too, favor the payments but do not want to increase the deficit to pay for them....
Of course, when it comes to trillions for banks, well....
