Sanders hails Obama's stance on Social Security

10/15/09 8:53AM

Senator Bernie Sanders is hailing President Barack Obama's call for Congress to approve $250 payments to more than 50 million seniors to make up for no increase in Social Security next year.

The White House put the cost at $13 billion.

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.

Sanders has been advocating for a one-time payment to make up for the lack of the cost-of-living increase. He says the $250 will equal about a 2 percent annual increase.

Tags

social_security
comments powered by Disqus
Supported By
Become an Underwriter | Find an Underwiter