Senate says no to bonus Social Security payments

Senate votes not to give extra money to those receiving Social Security


Andrew Taylor
March 4, 2010 5:07AM (UTC)

The Senate has rejected President Barack Obama's proposal to give a $250 bonus payment to people on Social Security.

The proposal failed by a 50-47 vote in which Republicans and Democratic budget hawks opposed the idea for adding $14 billion to the budget deficit. Sanders said the $250 payment was needed to make up for the lack of a cost-of-living adjustment this year for beneficiaries. Disabled people and veterans also would have been eligible for the payments.

Advertisement:

Seniors received an identical $250 bonus last year as part of the economic stimulus bill.

But economists say the payments don't do much to boost the economy since many seniors simply save the money rather than spend it.


Andrew Taylor

MORE FROM Andrew Taylor

Related Topics ------------------------------------------

Barack Obama Social Security U.s. Senate

BROWSE SALON.COM
COMPLETELY AD FREE,
FOR THE NEXT HOUR

Read Now, Pay Later - no upfront
registration for 1-Hour Access

Click Here
7-Day Access and Monthly
Subscriptions also available
No tracking or personal data collection
beyond name and email address

•••


Fearless journalism
in your inbox every day

Sign up for our free newsletter

• • •