Obama Calls for Emergency $250 Payments to Social Security Recipients

2 years ago

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Washington Reporter

Responding to the Labor Department's expected announcement that Social Security recipients will not see an increase in their benefit checks for the first time in three decades, President Obama called for one-time emergency payments of $250 for seniors, the disabled, and others receiving Social Security, the Washington Post reported Thursday. The payout, which will cost $13 billion, is part of the administration's ongoing effort to sustain the economic rebound without a massive additional stimulus bill.

Yearly increases in Social Security benefits have been a "ritual" since the 1970s, when the government moved to ensure that benefits kept pace with inflation. Last year's increase was an unusually high 5.8 percent, but stagnant consumer spending this year marks the first time that the Labor Department's formula will prescribe no increase.

Stagnant Prices Prevent Social Security Increase [Washington Post]

Filed Under: Economy, Social Security, Obama Administration

Tagged: daily guidance, DailyGuidance, health care, HealthCare, social security, SocialSecurity

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