Editorial: Seniors will need 2010 plan for bonus
Seniors in west central Minnesota and the rest of the U.S. are facing a tough 2010 without any cost-of-living adjustments, according to an announcement Thursday by the Social Security Administration.
Social Security recipients have since 1975 received a cost-of-living increase tied to the rate of inflation. In the past year, inflation is actually at a negative, thus no cost-of-living increase in 2010.
For those 50 million seniors receiving Social Security, this is a new challenge, especially for those with limited incomes.
There are several proposals in Congress seeking to address this benefit freeze for seniors.
President Obama this week called on Congress to approve a $250 one-time payment in 2010 to Social Security beneficiaries and other benefit categories. The White House projects the overall cost of this one-time payment would be $13 billion.
There is growing support for some type of 2010 aid for seniors.
Living on a fixed income is a challenge for anyone. It is even more challenging when one faces rising food and/or medical costs.
While $250 is not a lot, any little bit can be helpful for a senior on a fixed income.
While politicians likely have an ulterior motive so close to the 2010 election season, helping seniors with this one-time payment is still the right thing to do.