For the second year in a row the Social Security Administration will not give seniors a cost of living increase. Many seniors depend on the monthly retirement checks as their sole source of income and have had to make do with less during this sluggish economy.
According to Obama’s Press Secretary Robert Gibbs, “The President will renew his call for a $250 Economic Recovery Payment to our seniors this year, as well as to veterans and people with disabilities.”
In a statement Gibbs referred to the $787 billion stimulus package success in providing benefits to those in need and said the president is calling for another $250 check to be mailed to seniors collecting their government retirement benefits.
“Under the Recovery Act, 56 million people benefited from the first Economic Recovery Payment—including about 50 million Social Security beneficiaries,” Gibbs said. “We’re grateful that Speaker Pelosi has indicated she will bring the new Economic Recovery Payment to a vote and we urge members of Congress on both sides of the aisle to support our seniors, veterans and others with disabilities who depend on these benefits.”