NEW YORK (CNNMoney.com) - President Obama is calling on Congress to send another $250 payment to 57 million seniors and other Americans to stem the economic strain.
Congress approved $250 emergency payments as part of the $787 billion economic recovery act that lawmakers passed in February.
"Even as we seek to bring about recovery, we must act on behalf of those hardest hit by this recession," Obama said in a statement Wednesday. "That is why I am announcing my support for an additional $250 in emergency recovery assistance to seniors, veterans, and people with disabilities to help them make it through these difficult times."
The measure would cost $13 billion over 10 years, according to White House estimates.
The $250 is roughly equal to a 2% increase in benefits for the average Social Security beneficiary.
The move would help counter the effect of an expected announcement that Social Security recipients will not get a cost of living bump in 2010. Such adjustments are tied to economic factors such as inflation, which has remained low because of the recession.
The call for increased benefits for seniors is one of several proposals to expand stimulus benefits. Lawmakers are also considering extending unemployment benefits and the homebuyer tax credit, both of which were included in the economic stimulus bill passed in February.
What will $250 do for anyone. Take that money in lump form and do something productive for seniors. It is a shame how money is wasted
$250? Just how much value is $250 in this economy? I am sure seniors will be glad to get any help they can, but I truly hope that BHO does not think this is going to pad the bank account. I am more interested in "others", likely able bodied lazy folks that make a career out of living off of us. I wonder how much of the money is going to them as BHO continues his plan to take from the workers and give to the lazy.
that buys me a months supply of diapers.
IT'S MY $.....YOU AIN'T GIVING CRAP!
There is a formula that is used to see if Social Security recipients should get a raise. The President is not part of that action. As a senior, I don't understand how they come up with their formula with our gas, electric and other utility prices going up. And those utilities are not luxuries. The President did not have to do anything. So these crumbs are better than nothing. The angry folk will blame President Obama for everything in their lives. Their hatred is showing again with their nasty, below the belt comments.
Rather than the $250 silliness, how about some legislation to stop companies from discriminating against older than 50 workers when it comes to hiring. It is so blatant that companies don't even make an effort to hide it. It would be easy. Open up your books, show us how much hiring you did last year and how many of those hirees were over 50?
Trying to buy the health care bill. One senor at a time. Heck Obummer throw in a can of dog food. After your Congress taxes us to death to pay for it , it will be the only thing we will be able to afford to eat.
I am a democrat but.........
STOP BUYING VOTES.
Us retirement people had much rather receive a cost of living adjustmen to stay up with the increase of insurance payments. $250 will not touch what they're doing to us thanks to you OBAMA>
Sandy, so Obama lost all these jobs???? Just to set the record straight we were losing well over 750,000 jobs a month during the Bush administration. Millions of jobs before Obama ever got into office. Yes we are still losing jobs, however the momentum has slowed and are only losing jobs at a 200,000 month rate now, with job creation expected by next year.
Also, if you are worried about the debt your grandchildren will inherit, simply add up the deficits created by the Republican Administrations including your beloved Ronald Reagan and you will find they account for 90% of the debt we have today. Keep on believing the propaganda you seem to be spouting.
...more dough being thrown around just to soften the blow of the upcoming reparations....
I just cracked up seeing the title 'Obama wants $250 for Seniors"
First thing came to my mind , rounding up all the seniors you can for 250 a piece!
Sara Palin you were right, there are Death Panels!
Let's save some money by limiting this additional money to needy seniors. The US cannot afford to continue acting as if age alone creates need. And after reading the other comments, this senior citizen is embarrassed by her greedy, whining counterparts.
As for health care, why should working people who cannot afford their own health insurance be taxes to subsidize ours? It is insane to use age as a need indicator. Plenty of old people have money; plenty of young people do not.
He can send me $250 while he's at it. Since he's not going to do anything about the job situation and I can't live on student loans, that's the least he could do. I'm still gonna vote against his whiny a$$ in three years, but hey I can't live like this until then.
Beggars can't be choosy. Any other leaders in other nations wouldn't even bother to give $2.50 to their people.
Why does he need to stimulate the economy more when they just passed the 787 billion jobs creating bill, that was suppose to keep unemployment below 8% and create 2-4 million. Remember all that bull, I do, and I won't forget it when I vote in 2010.
To those who are receiving social security checks every month and are upset that the President is only trying to get you $250.00 next year–stop being STUPID. Your received a 5.8% increase this year and the $250.00 he is proposing will equal approximately 2% next year. That's an average of 3% a year between 2009 and 2010. Most working people aren't getting that kind of increase a year. I know you want to complain about anything he does, but try and find something else because this just shows your stupidity. Oh, by the way, I'm appreciative of the $250.00 after my 5.8% this year.