Obama $250 Bribe To Senior Citizens

There will be no cost of living increase for Social Security recipients next year, the first year without one since automatic adjustments were adopted in 1975. Blame falling consumer prices for no automatic increase next year. By law, Social Security's cost-of-living adjustment, or COLA, is pegged to inflation, which was negative this year, due largely to falling energy costs.

The elitist progressive Barack Hussein Obama and Democrats economic stimulus has had the reverse effect.  America is going into deflation as consumers quit buying.  This will be followed by skyrocket inflation as the FED prints more money to pay the staggering debt Obama has created.

Obama and key members of Congress call for a second round of $250 payments to more than 50 million seniors, veterans, retired railroad workers and people with disabilities.  The payments would be equal to about a 2% increase for the average Social Security recipient. The cost: $13 billion. Obama called on Congress Wednesday to approve the payments, and several key members of Congress said they would. 

Obama said he would not allow the payments to come out of the Social Security trust funds and further erode the finances of the retirement program. Social Security already is projected to pay out more in benefits than it collects in taxes in each of the next two years.

However, Obama did not offer any alternatives to finance the payments. A senior administration official said Obama was open to borrowing the money, increasing the federal budget deficit. The official, who requested anonymity, was not authorized to speak on the record.

"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 this economic crisis," Obama said in a statement. 

The economic crisis would be over if Obama and the Democrats would have passed a real stimulus plan.  They though want the economy to go down further.  Obama is destroying the dollar.

This is an openly blatant attempt by elitist progressive Obama to curry favor with senior citizens.  The senior citizens have been some of the more vocal opposition to Obamacare health care.  As Obamacare is now moving through Congress Obama is making a blatant attempt to silence senior citizen opposition.

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You might also be interested in reading this article: Robert Reich “We’re Going To Let You Die”