Practice Areas

Sign up

Insert your Email address to sign up for our E-Newsletter

News

Share

Legal News

No Social Security hike, could boost new payments

For the first time in more than a third of a century, social security receipients will not be receiving a cost-of-living increase for next year which could give seniors another round of $250 payments before the congressional elections. The cost-of-living adjustments are pegged to inflation which has been negative this year because of lower energy costs.

"Democratic leaders in Congress have signed onto the plan, greatly improving its chances, even as some budget hawks say the payments are unwarranted and could add to the federal budget deficit. Republican leaders said they, too, favor the payments but don't want to increase the deficit to pay for them. The White House said the stimulus payments would cost $13 billion, though a congressional estimate put the cost at $14 billion. Obama didn't say how the payments should be financed, leaving that up to Congress. The president is open to borrowing the money, increasing the federal deficit, just as Congress did with the first round of stimulus payments."

Read More About No Social Security hike, could boost new payments...

back to top

Do You Have A Case?

questions

Resources