As Jay Leno would say, “What’s with Barack Obama?” ” Look what he is asking Congress to do now.”
He is proposing that we send a check for $250 to each of 57,000,000 people on Social Security. Why? Since the economy is in recession and there has been deflation for the past year, there will be no cost of living increase in Social Security payments this coming year. Every year since 1975 there has been a COLA. In Mr. Obama’s view, not having an increase in benefits is an unacceptable hardship for many of those on Social Security, Railroad retirements, and Public Retirement Programs. The $250 would be about the same amount as if there had been a 2% COLA this year.
Mr. Obama doesn’t think the $14.25 Billion cost of this idea should come out of Social Security. He isn’t sure it should be funded at all since that would mean more taxation which would be unpopular. His current plan is to just add it to our already over One Trillion Dollar Deficit.
I really think it is strange that Mr. Obama doesn’t ask Congress to send a $500 or even $1,000 check to each of these folks. I mean, $14 Billion* is such a piddling amount when weighed against a $1+ Trillion deficit that raising it by $28 billion or $57 Billion would hardly be noticed.
Any Congressman or Senator who goes along with this idea should be fired in 2010.
It is interesting that Mr. Obama and the Democrats in Congress are losing the Senior vote that is so critical to passage of sweeping health care reform. You don’t think this could be an attempt to buy back those votes, do you?
* Almost the exact amount of the total state budget for the state of Kansas