So the US is now 1.4 trillion dollars in debt. That's a whole lot of money. It's almost 6 times Singapore's estimated 2008 GDP. Most of it is the result of the economic crisis, the Bush era tax cuts and stimulus plan and the Obama stimulus plan. If someone owed that much money, I would imagine they would want to "tighten up" their belts but not the Obama administration
In light of the fact that there will be no Cost of Living Expenses Adjustment this year (since everything is cheaper this year than last), Social Security is not increasing it's monthly payment to the elderly. The monthly payment is tied to inflation to ensure a certain standard of living for the seniors. So if prices actually fell this year, there shouldn't be any increase in payments. Sounds fair right?
However, since the elderly are a disproportionately influential voting bloc (i guess being retired means that they have the time to go out and vote and nothing else to do but pay attention to politics), the Obama administration is talking about giving them another bonus $250 this year. Their basis for this payment? To compensate them for the lack of an increase in their monthly Social Security payouts. Think about this. For no rhyme and reason, the Obama administration wants to pull 13 billion dollars out of their asses to pay for an unjustifiable cause. And to top it off, they do not have any plans to come up with this sum other than borrow. This is untenable position. My father taught me not to spend more than I can earn but it appears that politicians are willing to sell the future to buy votes in the present.
I am no fan of the G.O.P. but I wonder how different is this administration different from the past? Instead ofTerri Schiavo, you have COLA for seniors. It makes one wonder if politicians are all painted with the same brush but just show different colours... It's disappointing.
In light of the fact that there will be no Cost of Living Expenses Adjustment this year (since everything is cheaper this year than last), Social Security is not increasing it's monthly payment to the elderly. The monthly payment is tied to inflation to ensure a certain standard of living for the seniors. So if prices actually fell this year, there shouldn't be any increase in payments. Sounds fair right?
However, since the elderly are a disproportionately influential voting bloc (i guess being retired means that they have the time to go out and vote and nothing else to do but pay attention to politics), the Obama administration is talking about giving them another bonus $250 this year. Their basis for this payment? To compensate them for the lack of an increase in their monthly Social Security payouts. Think about this. For no rhyme and reason, the Obama administration wants to pull 13 billion dollars out of their asses to pay for an unjustifiable cause. And to top it off, they do not have any plans to come up with this sum other than borrow. This is untenable position. My father taught me not to spend more than I can earn but it appears that politicians are willing to sell the future to buy votes in the present.
I am no fan of the G.O.P. but I wonder how different is this administration different from the past? Instead ofTerri Schiavo, you have COLA for seniors. It makes one wonder if politicians are all painted with the same brush but just show different colours... It's disappointing.
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