Unbelievable. President Obama is going to hand $250 to seniors to make up for a lack of a boost in Social Security payouts. I guess that money tree behind the White House just won’t stop producing fruit! And by fruit, I mean gold bars, because the dollar is quickly losing its stature. Social Security payments are supposed to increase with inflation, but last year, there was no inflation, so the payments are going to remain constant.
Here’s the money quote of the story:
“Even as we seek to bring about recovery, we must act on behalf of those hardest hit by this recession,” Obama said in a statement. “This additional assistance will be especially important in the coming months, as countless seniors and others have seen their retirement accounts and home values decline as a result of this economic crisis.”
Huh? The people hardest hit by the recession are people with houses they already own and retirement savings that have slowly been recovering? Plus, he’s going to give them a whole $250? For what? To buy a couple of Snuggies?
President Obama, the people hardest hit by your recession are the folks who lost their jobs (not that $250 would really help there). But he’s willing to spend $12.5 billion dollars to do.. what? Try to quell the backlash against the AARP?
So far, Obama’s shown he doesn’t know much about economics, or history. I don’t see what throwing $250 at a person over 65 is going to do to stimulate the economy. If anything, it’ll stimulate the Matlock Memorabilia market.