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Democrats to push for $250 Social Security payment
CNN ^ | 11/13/10 | Charles Riley

Posted on 11/13/2010 8:50:33 AM PST by FromLori

NEW YORK (CNNMoney.com) -- When House Democrats return to Washington on Monday, a top priority will be putting a $250 dollar check in the mail to 58 million Social Security recipients.

Democrats plan to vote early in the lame-duck session on a bill that would provide Social Security recipients with a one-time payment, according to the office of Earl Pomeroy, a Democrat from North Dakota who authored the legislation.

The bill -- with a total cost of roughly $14 billion -- is designed to make up for another year without an increase in Social Security benefits.

In October, the federal government announced that Social Security beneficiaries will see no increase in their benefit checks in 2011. That will mark the second year in a row with no increase.

(Excerpt) Read more at money.cnn.com ...


TOPICS: Government; News/Current Events
KEYWORDS: economy; socsecurity
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To: goldstategop

That won’t even buy a month’s worth of groceries. Last time I didn’t get one....so not all will receive it.


51 posted on 11/13/2010 11:32:25 AM PST by GailA (obamacare paid for by cuts & taxes on most vulnerable Veterans, retired Military, disabled & Seniors)
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To: FromLori

Is NObama using some of the $20 BILLION he extorted from BP????

WHERE is that money???


52 posted on 11/13/2010 11:34:01 AM PST by ridesthemiles
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To: Trinity5

“I think the $250 is a good idea.”
“Why?”

Because of the inflation caused by the intentional devaluation of the dollar and other policy measures by this administration. It will help those on Social Security who have not had a rate increase in two years to somewhat keep up with inflation but of course it will not be 100%.


53 posted on 11/13/2010 1:38:44 PM PST by Parley Baer
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To: 386wt

Boy, that’s too bad. Mine was reduced by $285.96.


54 posted on 11/13/2010 1:50:14 PM PST by Roccus (Quondo Omni Flunkus Mortati)
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To: Beagle8U
That is not how the COLA's work. They are based on the CPI-W and are not affected by what Medicare premiums are doing. So if in the 3rd Qtr 2011 the CPI-W exceeds the value from 3rd Qtr 2009 by 2.4 percent that is what the Social Security increase will be. Based on the increases already logged by the Medicare premiums, a 2.4 percent SS increase will completely absorb the COLA in 2012, for a net increase over three years of zero dollars. If the COLA were higher than that the net increase would be the actual increase-2.4 percent.
Year CPI-W Calc COLA Actual
COLA
Effective COLA after Medicare Premium
2008 203.596 - - -
2009 215.495 5.8% 5.8% 5.8%
2010 211.001 -2.1% 0% 0%
2011 214.136 -0.6% 0% 0%
2012 220.560* 2.4% 2.4% 0.01%
* = estimate
55 posted on 11/13/2010 2:26:55 PM PST by RDasher ("El Nino is climate, La Nina is weather")
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To: goldstategop
how are they going to pay for this

By selling more free cheese, of course!

56 posted on 11/13/2010 4:00:16 PM PST by ApplegateRanch (Made in America, by proud American citizens, in 1946.)
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To: goldstategop

I want a check too!....those SS recipients at least have a check coming in and Iknow some on “disability” that are simply lazy arced schemers....they don’t need the money.


57 posted on 11/18/2010 9:37:53 PM PST by cherry
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