President Obama Seeks $250 For Seniors To Make Up For Social Security Freeze

[Purveyor]

Source: Associated Press

WASHINGTON – President Obama is calling on Congress to approve $250 payments to more than 50 million seniors to make up for no increase in Social Security next year

--clip
The Social Security Administration is scheduled to announce Thursday that there will be no cost of living increase next year. By law, increases are pegged to inflation, which has been negative this year.

It would mark the first year without an increase in Social Security payments since automatic adjustments were adopted in 1975.

The $250 payments would also go to those receiving veterans’ benefits, disability benefits, railroad retirees and public employee retirees who don’t receive Social Security.

Read more: http://www.journalgazette.net/article/20091014/NEWS03/9...

[petersjo02]

1. Good news at our house.

My tiaa-cref retirement check each month decreased by 40% as of last May, so we're running a bit short here, even without the SS freeze.

[CountAllVotes]

2. yeah!

that will solve the problems facing people on Social Security!

[goclark]

7. We are on Social Security and we would happily take it

$500 would be much appreciated in our household.

Anyone that doesn't want their $250 please let me know, we'll gladly take their check too.

[WeekendWarrior]

11. What a productive and thoughtful response.

[CountAllVotes]

15. why thank you

I appreciate it very much!

[dysfunctional press]

30. it doesn't hurt.

i'm disabled and on social security.
although my monthly check is a bit less than it should be, because it turned out that a past employer had never paid into the ss the fica money that had been deducted from my pay over a two-year period. it amounted to 12% of my total contributions, and i was given no credit for it. and since the company was by then long bankrupt and gone, i had no recourse.

[bluestateguy]

3. But I thought Obama hated old people?

nt

[Cha]

5. You'd think reading some of the posts around

here that President Obama hates everyone.

I hope this is helpful to those who need it.

[Psephos]

27. No, he loves them, and to prove it, he will hand them some of your money.

Regardless of whether they need it or not.

How about means testing the give-away?

Aww hell, why bother, just call the mint and have them print up another 12 billion. No prob. Someone else can pay for it later...in the future...like those kids on bikes I just saw.

[Ian David]

4. Cashing the check is how they get you on the list for the death panels.

Tell the Deathers to return their checks!

[JonQ]

6. We'll have to ask the chinese for an advance on our allowance

I hope they're feeling generous.

[flyarm]

8. more cans of dog food for those who have lost their entire life's savings to the big boys on wall st

yeah thats the ticket...

now lets see how the big boys have made out..while grandma and grandpa's savings and 401's aren't worth shit today.........

http://www.democraticunderground.com/discuss/duboard.ph...

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

YES LETS LOOK AT WHAT THOSE SENIORS PAID FOR FOR THE BIG BOYS ..WHILE LOSING THEIR LIFE'S SAVINGS...

I can tell you this..what my family has lost ..$250. would mean jack shit! and less than jack shit!

Goldman Sachs bonus blowout; $23 billion: Enough to pay for healthcare for 1.7 mil families

http://www.democraticunderground.com/discuss/duboard.ph...




http://rawstory.com/2009/10/goldman-sachs-2009-bonuses -...

Yesterday, we brought you the insurance company that wouldn't insure a 17-pound infant because he was too heavy. Today, we bring you the investment bank that manages to double its bonuses during the worst recession since the Great Depression.

On Thursday, Goldman Sachs will announce the firm's bonus payments for 2009. Analysts expect the bonus pool to mushroom to $23 billion -- double the bonus pool paid to employees in 2008. Earlier this year, Goldman Sachs said that it had put aside $11.4 billion for bonuses during the first half of the year.

“The absolute size of compensation payouts will rise significantly,” Keith Horowitz, an analyst at Citigroup, wrote in a note to clients two weeks ago, highlighted by Andrew Sorkin in The New York Times' dealbook column Tuesday.

How much is $23,000,000,000?

For one thing, it's enough to send 460,000 full paying students to Harvard University for one year, or 115,000 for four years.

It's enough to pay the health insurance premium for the average American family ($13,375) 1.7 million times.

It's enough to upgrade 191 million computers to Windows 7 operating system (priced at $119.99), or to buy 115 million iPhones at $199.99 (provided the recipient was willing to sign a two-year contract).

Or, apparently, it's enough to reward the employees of Goldman Sachs for a bonanza trading year, at a firm where average employee compensation was recently $622,000 -- and likely to be greater this year.


The $23 billion figure could leave some American taxpayers woozy -- the US government bailed out Goldman Sachs with a multi-billion payment last year, which the firm has since repaid.

But while Goldman is likely to pay its biggest bonuses ever to employees, the firm pays very little in taxes worldwide. In 2008, the company was said to have paid just $14 million in taxes worldwide, and paid $6 billion in 2007.

The firm's corporate tax rate? About 1 percent. According a prominent tax lawyer, “They have taken steps to ensure that a lot of their income is earned in lower-tax jurisdictions.”

Sorkin says Goldman's CEO is trying to hold off criticism by making a big charitable donation.

"Now there’s talk inside Goldman that it is considering making a huge charitable donation — perhaps more than $1 billion — as a way to help deflect the criticism," Sorkin says. "Such a donation would be a welcome gesture that would no doubt benefit many needy organizations. But it would most likely be seen for what it is: a one-time move to draw attention away from where most of the money is really going. A large charitable donation also raises questions about the company’s fiduciary duty to its shareholders; it could be seen as giving away profits that ostensibly belong to them."

http://rawstory.com/2009/10/goldman-sachs-2009-bonuses -...

xxxxxxxxxxxxxxxxxxxxxxxxxxxxx

this is the dog bone being thrown to the little old folks.......and it is an insult.

PROMISE BROKEN. Mr Obama said he would end income tax for the elderly making less than $50,000 per year, thereby eliminating taxes for seven million of them. This has not been part of his economic stimulus bill, his first budget outline or any legislation proposed by the White House.

[CountAllVotes]

14. frankly, I find it insulting

people having worked their entire lives to get $250.00 while the CEOs and the Wall street crowd are raking in billions. As for all of the money lost last year, this population group has the very least opportunity or chance to recover from the downfall. Living on a poverty level fixed income is not easy.

It will buy maybe an extra months worth of groceries for two persons at best if very lucky and prudent.

That hearing aid that is needed right now costs $2500.00+ and no, Medicare doesn't cover such convenience items.

You have hit the nail on the head IMO.

[maglatinavi]

34. an insult

and a lack of respect to our intelligence... what can we do with $250 in a year ... buy a bag of potatoes monthly??? ... give me a break!!! Oh Hillary, where art thou!!! the a**holes...

[timo]

16. cut foreign aid

cut out the mountains of money we piss away daily on foreign aid to countries who hate us, it would put us in the clear reeeaallllyyyy quick!!

[Gormy Cuss]

9. Good move --it's far better than nothing. n/t

[flyarm]

10. PROMISE BROKEN. Mr Obama said he would end income tax for the elderly making less than $50,000 per y

PROMISE BROKEN. Mr Obama said he would end income tax for the elderly making less than $50,000 per year, thereby eliminating taxes for seven million of them. This has not been part of his economic stimulus bill, his first budget outline or any legislation proposed by the White House.

[BeHereNow]

25. Nothing to see here... move along citizen.

We've been had.
It should be so clear to every thinking person.
I can not believe there are still people who don't understand what has happened.
BHN

[madokie]

12. I'll make it a point to spend mine on something that is produced here in the USA

I'll make damn sure of that even if I have to buy some homegrown weed to do it.

[boomerbust]

13. Hey madokie

If the homegrown is any good let me know, I'll be getting that 250 also.

[bitchkitty]

17. Cool! I'll have a late Christmas.

Better than no Christmas!

[JDPriestly]

18. I'd like a small percentage of the bonuses that Goldman Sachs is awarding

its traders. I believe that they are being paid out of my money (and yours).

[BeHereNow]

19. Translation: "Here, have some crumbs from the corporate cake."

See what a nice man I am?
Trillions to the wars and wall street, no health care
but some crumbs for you, none the less.

BHN

[Mari333]

20. +1000000

250 dollars is what a bailed out CEO on Wall Street uses for a tip at dinner.

[BeHereNow]

22. My point exactly.

$2,500 a month is a more accurate start.
$250 is just plain damned insulting to any one with a pulse.

BHN

[troubledamerican]

28. Well said.

[dflprincess]

21. If inflation is negative so seniors get no cost of living increase

why are Medicare D, Medigap & Medicare Advantage premiums going up? No increase in Social Security payments should mean no increase in any Medicare premiums as well.

[aquart]

23. Negative means they should go DOWN.

So, basically, people are getting enough to pay the increase in health insurance?

[dflprincess]

26. On the other hand, my mother - who won't be getting an increase -

saw her rent go up, not much but still up. Her grocery list doesn't vary much and I don't see that going down when I do her shopping. The local electric company is asking for an increase. Fortunately, her income is low enough that she doesn't pay for her medicare & medigap coverage.

All this proves is that when the government is calculating "cost of living" increases it doesn't appear to be in touch with reality.

[aquart]

35. Not even a little.

[flyarm]

24. The insults keep piling up, but rest assured the people who understand this shit big time

are the seniors..and they vote!

Oh and i live in Fla..one of the biggest senior populations in the nation ..and the older folk are getting damned angry! Dem and repub alike!

this shit will really piss them off ..i assure you of that..they are anything but stupid!

[dysfunctional press]

29. what shit will really piss them off? getting $250?

[flyarm]

31. how pissed would you be if you lost thousands upon thousands in your retirement

investments and you get $250 bucks ..while the wall street boys that fucked you are working for and with this adminstration giving out huge bonus's to their big boys boys ?????

See i know many retired folks down here in Fla that were on fixed retirment incomes that aren't worth a shit now..got it?????? now add to that that medicare is going to go upand you get a check for $250 bucks that won't even pay for the increase..and you were promised by this pres that he was going to eliminate taxes for seniors with an income $50,000 or less and he hasn't done jack shit about his promise ..but he is going to send you a frigging $250 dollar bone..when your tax dollars are going to give the big boys of wall street all with close ties to this white house and going to get BIG FUCKING BONUS'S WITH YOUR TAX FUCKING DOLLARS!

[dysfunctional press]

32. i thought you said that they weren't stupid...?

the $250 is to make up for the fact that due to the inflation rate and the way cost-of-living is figured, there won't be any cola.

technically speaking, we aren't entitled to the $250(i'm on ss due to permanent disability)

and no- the medicare increase won't be more than the $250.

get some facts.

[zogofzorkon]

36. you don't even have to be getting SS to be pissed. We are not

goddamn dogs to be thrown table scraps from a banquet they stole from us. Eventually people are going to rip the legs off the table and hammer the people sitting in the chairs.

[ecstatic]

38. Has anyone calculated whether the 250 equals what the COLA would have been

in most cases? And the money "stolen" from seniors' retirement is due to their vote for Bush. Votes have consequences. Obama cannot magically undo everything that happened over the past 8 years.

[high density]

41. 8 years? I guess they'd better undo the law from 1975 that indexes the increases to inflation

Let's take back all of those automatic increases from the past few decades so that we can have one arbitrary increase for this year. And then congress can vote every year after that on whether they want to increase COLA, like their own wages. (I'm going to guess that they always vote to give themselves a raise while voting no on giving anybody else a raise.)

[flyarm]

49. he sure did for wall street and the banks!! and pissants for the little people! eom

[ecstatic]

39. Votes have consequences. The vote for Bush&Co

led to many people losing their retirement. If they think someone is gonna swoop in and pay them all the money they lost, they're dreaming. I feel really bad for people who lost money in 401ks, etc., but there's not much that can be done about it now.

[Mari333]

43. Lots of people who didnt vote for Bush lost money

and now they are being told that Congress has 682 billion dollars to send to the fucking wars, but seniors get no COLA increase, and will be sent 250 dollars to appease them. 250 dollars.
Congress might as well stand and piss on every senior citizen in this country. at least it would be more honest.

[ecstatic]

44. It is sickening that so much is spent on wars and it's

wrong to deny the COLA increase even if the numbers don't add up. Just saying that the current admin is not to blame for people losing their retirements.

[flyarm]

50. but it was done for the big boys on wall street and the banks..wasn't it? eom

[Mari333]

42. amen! This is going to piss off a LOT of people

and Im one of them.

[flyarm]

52. Wall Street Set to Pay a Record $140 Billion In Bonuses Topping 2007

Wall Street Set to Pay a Record $140 Billion In Bonuses Topping 2007

i will repeat what i posted on another thread like this,.$250 bucks..buys you one basket of groceries today..if you are careful and shop at a cheap store! and as someone else posted and i will borrow..it is the tip one of the wall street boys will pay for one dinner!

14 October 2009
Wall Street Set to Pay a Record $140 Billion In Bonuses Topping 2007

http://jessescrossroadscafe.blogspot.com/2009/10/wall-s ...

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx


yes...lets see how the big boys have made out..while grandma and grandpa's savings and 401's aren't worth shit today.........

http://www.democraticunderground.com/discuss/duboard.ph ...

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

YES LETS LOOK AT WHAT THOSE SENIORS PAID FOR FOR THE BIG BOYS ..WHILE LOSING THEIR LIFE'S SAVINGS...

I can tell you this..what my family has lost ..$250. would mean jack shit! and less than jack shit!

Goldman Sachs bonus blowout; $23 billion: Enough to pay for healthcare for 1.7 mil families

http://www.democraticunderground.com/discuss/duboard.ph ...




http://rawstory.com/2009/10/goldman-sachs-2009-bonuses -...

Yesterday, we brought you the insurance company that wouldn't insure a 17-pound infant because he was too heavy. Today, we bring you the investment bank that manages to double its bonuses during the worst recession since the Great Depression.

On Thursday, Goldman Sachs will announce the firm's bonus payments for 2009. Analysts expect the bonus pool to mushroom to $23 billion -- double the bonus pool paid to employees in 2008. Earlier this year, Goldman Sachs said that it had put aside $11.4 billion for bonuses during the first half of the year.

“The absolute size of compensation payouts will rise significantly,” Keith Horowitz, an analyst at Citigroup, wrote in a note to clients two weeks ago, highlighted by Andrew Sorkin in The New York Times' dealbook column Tuesday.

How much is $23,000,000,000?

For one thing, it's enough to send 460,000 full paying students to Harvard University for one year, or 115,000 for four years.

It's enough to pay the health insurance premium for the average American family ($13,375) 1.7 million times.

It's enough to upgrade 191 million computers to Windows 7 operating system (priced at $119.99), or to buy 115 million iPhones at $199.99 (provided the recipient was willing to sign a two-year contract).

Or, apparently, it's enough to reward the employees of Goldman Sachs for a bonanza trading year, at a firm where average employee compensation was recently $622,000 -- and likely to be greater this year.


The $23 billion figure could leave some American taxpayers woozy -- the US government bailed out Goldman Sachs with a multi-billion payment last year, which the firm has since repaid.

But while Goldman is likely to pay its biggest bonuses ever to employees, the firm pays very little in taxes worldwide. In 2008, the company was said to have paid just $14 million in taxes worldwide, and paid $6 billion in 2007.

The firm's corporate tax rate? About 1 percent. According a prominent tax lawyer, “They have taken steps to ensure that a lot of their income is earned in lower-tax jurisdictions.”

Sorkin says Goldman's CEO is trying to hold off criticism by making a big charitable donation.

"Now there’s talk inside Goldman that it is considering making a huge charitable donation — perhaps more than $1 billion — as a way to help deflect the criticism," Sorkin says. "Such a donation would be a welcome gesture that would no doubt benefit many needy organizations. But it would most likely be seen for what it is: a one-time move to draw attention away from where most of the money is really going. A large charitable donation also raises questions about the company’s fiduciary duty to its shareholders; it could be seen as giving away profits that ostensibly belong to them."

http://rawstory.com/2009/10/goldman-sachs-2009-bonuses -...

xxxxxxxxxxxxxxxxxxxxxxxxxxxxx

this is the dog bone being thrown to the little old folks.......and it is an insult.

PROMISE BROKEN. Mr Obama said he would end income tax for the elderly making less than $50,000 per year, thereby eliminating taxes for seven million of them. This has not been part of his economic stimulus bill, his first budget outline or any legislation proposed by the White House.

[maglatinavi]

33. inflation

Who says there is no inflation??? Everytime I go to buy groceries the prices have been hicked. Who are the geniuses that have come with such lie??? Soon I'll not be able to survive... and I am 79 yrs. old and worked over 40 yrs. I deserve my SS and the increase to cover the fu****g inflation. those economists should be decapitated... I guess they make millions... No reality, no compassion... are they channeling Bush, I mean the Shrub???

[high density]

40. So they should make up some inflation numbers so that people get a COLA increase?

Everybody's in the same boat. How about all of the working people paying the FICA taxes that got no raise for the last year. Any compassion for them?

[RebelOne]

37. I will take it. I am on SS, but still working, because I cannot afford to retire.

That $250 will be just a little more that I can add to my IRA so that I can retire within the next couple of years.

[question everything]

45. Better than nothing, I suppose (nt)

[underpants]

46. MSM is going to cream him on this-regardless of the facts

[Mari333]

48. I hope so!

with 57 percent of the US budget going to the defense dept ,it should be creamed.

[flyarm]

51. have you done the grocery shopping in the past 6 months?? no inflation my ass! eom

[Mari333]

47. and yet, just today it has been reported that there will be a 5% increase in goods

250 dollars will buy a little more cat food to stave off the hunger.