One-Time Bonus Social Security Check

pennypinch · #1 11-13-2010, 06:50 PM

Well if you are on Social Security there is a good chance that you will be getting a one-time bonus check in the amount of $250.00 if the bill passes. The reason for it is because there hasn't been an inflation adjustment since 2009.

The total cost of sending these checks out is $14 billion dollars.

Those who are for this check say that it will not only help the recipients but the economy as well.

Quote:

"This relief will put money in the pockets of millions of older Americans struggling to make ends meet -- money likely to be injected directly into our fragile economy," AARP Senior Vice President Drew Nannis said in a prepared statement.

dimetime · #2 11-14-2010, 06:18 PM

I can just imagine how happy those getting this bonus check are going to feel. I know it sure would be nice to get extra money!!!

I also have to say it would be great to have the economy get an extra boost that just might happen when those getting these extra checks get out there and spend a little bit of it.

Just about everyone is having a hard time right now and the elderly seem to be some of the many who have really been hit because of the costs of prescription medicines. So this money is really going to be good for them.

moneysense · #3 11-15-2010, 09:11 PM

When you come right down to it, $250 is just a drop in the bucket per person. And how much will it help them?

Lets look at that situation. When you consider the price of some of the prescriptions that these people need just to preserve life, that $250 could be spent on one prescription as the price of some scripts is just down right ridiculous.

If they need an inhaler and have to pay out of pocket for it, one Combivent inhaler costs $146. So there goes most of that check right there. Then that leaves them with $154 to spend on groceries, or cleaning products, or gasoline to go to the doctor and the store.

Come on, I think our elderly need a heck of a bigger break than this measley $250 check and the only way it will stimulate the economy is the fact that there are so very many retirees these days.