Obama likely to hike money for low-income elderly

[Thrill]

WASHINGTON – More than 7 million poor people who are elderly, blind or disabled and receive cash benefits averaging $477 a month could get an extra monthly payment as part of President-elect Barack Obama's $800 billion economic recovery plan.

Democratic congressional aides said the idea of an extra Supplemental Security Income payment is gaining traction on Capitol Hill as lawmakers and staff aides hold daily meetings to work out details of the upcoming stimulus bill. The aides spoke on condition of anonymity to discuss the closed-door negotiations.

The idea of an extra SSI payment this year would cost about $4 billion, which would go to more than 7 million poor people enrolled in the program. Most of them are disabled, though about 2 million poor seniors would also benefit.

The relatively low cost of the idea seems to help its chances, though it's not a sure bet to be included in the final economic recovery package, which will blend tax cuts for individuals and businesses with huge spending initiatives such as aid to state governments, an increase in local school aid, and infrastructure projects such as road and bridge construction and repair.

"It's in the package as of now," said an aide to a top House leader.

The idea meets one of Obama's key criterion for the stimulus bill, which is to speed money into the hands of people who are likely to spend it. One criticism of last year's $600-1,200 tax rebate checks to individuals and couples was that many people simply saved the money or paid down debt instead of injecting it into the economy through spending.

http://news.yahoo.com/s/ap/20090112/ap_on_go_pr_wh/obama_stimulus;_ylt=AjCwAyN.nVTw2_qta7hdQ7myFz4D

[JNelson6563]

1. Imagine! Money going to some of those who need it most!

:toast:

[sandnsea]

2. Good idea,

but this makes no sense.

They're suspending the requirement that seniors pull their retirement money, I thought so it could stay in the investments they were in.

But regular people putting money in savings, so the banks have money to invest, or paying down debt, which helps the balance sheet of banks, is a bad thing.

Makes no sense. They should be begging people to pay down debt if too much debt on the balance sheet is the problem banks are having.

[DJ13]

3. I like that, but a one time readjustment to account for real inflation would help too

The 2% COLA in 2007 was a joke, and its been that way forever.

A study should be done to determine the real level of inflation since at least 2000 (if not before then) so the monthly benefits for recipients could be adjusted to account for the inflation they actually have suffered under.

SSI is probably 10 to 30% too low compared to the non-core PPI numbers that more accurately represent the true level of inflation.

[Bluenorthwest]

4. That would be excellent

I know people who live on SSI and they need every dime we can fork over to them, any month of the year. For crazy things like decent food.

[Skittles]

5. sweet

:thumbsup:

[eridani]

6. This ranks pretty high on the bang for the buck list n/t

[Cha]

7. You know this wouldn't be

happening if mccain got in.

Bless their hearts for helping the elderly and disabled.

[doodadem]

8. Yay!

My parents fall in this category. My dad was paralyzed by a stroke a few years ago (he'll be 89 this year), and my mom has liver and intestinal cancer, currently in remission. Before they passed away, both of my disabled sisters were on SSI, Medicare and Medicaid.

It is simply appalling what people are expected to live on. I actually think they know the paltry amount doesn't go far, but just don't care. My sister lost her house to Medicaid, and now my parents' place will also go to Medicaid when they pass away. Most people don't realize that if you have to go on Medicaid because of catastrophic illness, the state government considers it a "loan" against your home. They will then confiscate your home when you pass away.

It's total crap.