StanCollender'sCapitalGainsandGames Washington, Wall Street and Everything in Between



Andrew/Pete/Bruce: About That $250 Social Security Payment...

15 Oct 2009
Posted by Stan Collender

My recollection is that the automatic cost-of-living adjustment for Social Security was put in place so that members of Congress would not be tempted to adopt legislation that provided a larger-than-inflation increase every year.  That temptation proved to too much for most members so the "look ma no hands" approach was adopted.

Does anyone think that this won't be the most bipartisan vote of the year in the House and Senate?

I'm guessing 430 to 5 in the House and 96 to 3 in the Senate.

Wonder what the over/under is going to be?

 

O/U

We already know that 30 Senators voted against making it illegal for government contractors to include "may not prosecute when raped" clauses in their contract. The idea that 27 of those will regain their sanity and sign off on something that will increase the deficit by--what, about a week's worth of spending in Afghanistan alone?--is absurd.

I'm offering at 90 in the Senate, and would consider that optimistic in a (generally) non-election year.

Given the same rule in the House (i.e., non-election year), 380 is reasonable, but I wouldn't go below 405-410.

Given how much of the CPI drop is in housing prices, which don't tend to figure much in SocSec recipients costings, $250 seems reasonable--especially since many of those Senators and Reps will be voting for increasing Medicare/aid payments over the next decade, making certain the fix is in before the "curve-bending reform" is passed.


It's progress

a one time payment as opposed to an increase in the base


Where are the tea parties?

When it might actually do some good the loud mouths are nowhere to be seen. They are only opposed to the deficit in principle, not to anything that would keep it from rising.


I guess they didn't want to

I guess they didn't want to carry signs saying "Keep Government's hands off my [or my parents'] Social Security check!"


Social Security COLA

My health insurance premiums have already been increased 23%. How $20.08 a month is supposed to help is beyond me.
Of course, Bush showed how cheaply American voters could be bought for with his checks for children program. This just shows how much less the Obama administration thinks of retired people.
I hope the Dems lose the house, at least, in 2010 so we can listen to what they would have done if they only had the chance. I registered as an independent after the 2006 elections after being a registered Democrat since 1972.




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