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The $250 payments would go to Social Security recipients as well as those receiving veterans benefits or disability benefits, 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 payments would be equal to about a 2 percent increase for the average Social Security recipient. The cost: $13 billion.
I know there are plenty of retired people out there for whom another $250 will make a significant difference. I would have preferred if the government could somehow tailor this second round of payments so that they would go to those truly in need.
As a retired federal worker, my first $250 is going to be in the form of a $250 federal tax credit ... not sure about this second round.
My Dad was asking me about this, is this a done deal?
It's a done deal that there won't be a COLA; it's a done deal that there was an initial $250 payment (or tax credit for some) some months ago; it's not a done deal that there will be a second $250 payment, although the President and many in Congress support the second payment.
Wow I'm so excited that the deficit, already at an historical high, should get bigger if Obama gets his way and sends $250 checks to people so they will vote him in for a second term.
They've jimmy-rigged the COLA criteria so crookedly now (food and gas discounted indeed!) I doubt anyone will be getting an adjustment upwards for years. Quite the contrary, they just might claim deflation and start lowering monthly payments.
They've jimmy-rigged the COLA criteria so crookedly now (food and gas discounted indeed!) I doubt anyone will be getting an adjustment upwards for years. Quite the contrary, they just might claim deflation and start lowering monthly payments.
They did that a few years ago to keep the inflation index artificially low. This little deception slipped by most people.
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