Seniors on Social Security likely to get a bonus check

New York

The Social Security Administration has made it official — there will be no Cost of Living Adjustment (COLA) for some 49 million beneficiaries because inflation declined.

But wait!

There are now five bills before Congress to try to help seniors either next year or beyond. Some would just give $150 next year while others would permanently amend the Social Security Act to change the formula used to calculate COLAs.

Presumably, some of them will be the basis for President Obama’s announcement on Wednesday that he wants to give seniors a one-time $250 payment next year.

“The only question is how close to unanimous will it be,” says Stanley Collender, a federal budget analyst and managing director at Qorvis Communications in Washington. “How many Republicans will vote against this thing?”

See article at http://features.csmonitor.com/politics/2009/10/15/seniors-on-social-security-likely-to-get-a-bonus-check/