President Obama wants Congress to approve another year of stimulus payments to 57 million people including seniors, the disabled and veterans, the White House announced today.
The $250 payments would be equivalent to a 2 percent increase in Social Security benefits for the average retiree, according to the White House. The proposal would be an extension of relief for most recipients, but would also benefit 1 million public employee retirees who didn’t qualify for previous benefits.
The total cost of the proposal would be $13 billion.
And tomorrow, the Social Security Administration will announce cost-of-living adjustments for 2010.
