Reply #13: President Obama to seek $250 payment to Social Security recipients

[cal04]

Source: LA Times

After officials announce there will be no cost-of-living increase for the second consecutive year, the White House says Obama will ask Congress to authorize the one-time payment. A key Republican says long-term funding for Social Security must be addressed.

President Obama will press Congress to send a one-time payment of $250 to senior citizens to help them get through another year without an increase in their Social Security benefits, White House officials said Friday.

The renewed call for those payments came shortly after the Social Security Administration announced that millions of retirees and disabled workers will see no cost-of-living adjustments for the second year in a row, a result of the low U.S. inflation rate.

Yet seniors are struggling through the current economic downturn, White House Press Secretary Robert Gibbs said Friday, and they can't rely on their savings because of poor investment earnings.

Read more: http://www.latimes.com/news/nationworld/nation/wire/sc-dc-1016-social-security-20101015,0,2116540.story