Most Against Another $250 Payment to Seniors-US News

 Posted on October 21, 2009 in Social Security Disability

Last Wednesday, President Barack Obama urged Congress to approve $250 cash payments to over 50 million seniors. The push by the President is in part an attempt to make up for the failure to increase Social Security in 2010.

In a speech backing the proposal, President Obama stated, "Even as we seek to bring about recovery, we must act on behalf of those hardest hit by the recession. This additional assistance will be especially important in the coming months, as countless seniors and others have seen their retirement accounts and home values decline as a result of the economic crisis."-Yahoo! News

Since the proposal hit mainstream media, numerous blogs and articles have been written both supporting and criticizing the proposal. Critics argue that seniors already have protection from price inflation and don't merit special help, especially considering the state of the current economy, despite the failure to increase Social Security benefits next year. Proponents seem to argue that seniors could really use the extra money after the majority have incurred diminishing retirement funds throughout the year. For more on the discussion whether the President's proposal is sound, visit US News online.