This is a blatant attempt on his part to buy votes. With soaring deficits and out of control spending from Congress, the fact that he would even think of spending more money is mind boggling.Then again, nothing this man does surprises me any more. His complete lack of understanding about the economy and spending is monumental. He and his cohorts in Congress see a rough time ahead, as we he get into the 2010 elections. Here's a chance to target likely voters and buy some votes, which they'll likely need. The fact that we, and our kids, shall have to pay for his vote buying scheme only adds to the issue. Maybe he could use some of his Nobel money to fund this? Naw. Bet that never occurs to him.
WASHINGTON — President Obama urged Congress on Wednesday to authorize a second $250 stimulus check to be sent early next year to an estimated 57 million Social Security recipients, veterans and people with disabilities.
In effect, the payment would be in lieu of a cost-of-living increase for Social Security beneficiaries next year. The White House request, and receptive statements from Congressional Democratic leaders, anticipated an announcement on Thursday from the Social Security Administration that there would be no cost-of-living adjustment for 2010 because the inflation rate has been negative as the recession has driven down prices.
By contrast, a year ago the cost of living adjustment was 5.8 percent, reflecting strong inflation and high energy prices.
White House officials put the cost of the checks at $13 billion. The first $250 checks went out in May as part of the $787 billion two-year stimulus package. As with that package, the officials said Mr. Obama would not ask Congress to offset the cost with other savings because the checks were intended to stimulate the economy, and budget cuts or tax increases would defeat that.The money would go to all Social Security beneficiaries, regardless of their income, as well as disabled veterans, those eligible for railroad retirement payments and people who receive federal and state government pensions instead of Social Security.
Obama, Stimulus, Libertarian, Voting