Social Security Could Deliver Stimulus Within 6 Weeks To Millions Of Seniors, Yet Low Income Retirees Ignored In Stimulus Plan - USA

Main Category: Seniors / Aging
Article Date: 25 Jan 2008 - 2:00 PDT

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"The people who need a stimulus check the most will spend it the fastest. Why, then, is the Administration abandoning millions of seniors in an economic stimulus package? Senior households currently spend 92% of their income each year. Many retirees live check to check and would immediately spend any rebate they receive. This should be the first step in any plan to pump billions of dollars into the economy as quickly as possible." Barbara B. Kennelly, NCPSSM President/CEO and Social Security Advisory Board Member

Older Americans living on a fixed income feel the pressure of high prices and the slowing economy as acutely as anyone, yet Washington is considering an economic stimulus package which abandons the poorest retirees. These seniors are in the direst need and most likely to spend any additional income on necessary resources such as medicine, utilities, food and clothing. However, the preliminary stimulus plan announced today ignores retired Americans who live almost entirely on their Social Security income, which averages at $1000 per month.

"We were told economic stimulus must be timely. The Social Security Administration could get seniors a stimulus check in 6 weeks -- a faster implementation than the IRS would be able to deliver." Barbara Kennelly

This package, as currently proposed, ignores the needs of almost half of our nation's 65-plus population. Retirees were left on the sidelines of economic recovery efforts in 2001 and 2003. National Committee members and supporters are now working to ensure they aren't ignored again as the proposed stimulus package moves to the Senate for consideration.

The National Committee, a nonprofit, nonpartisan organization acts in the interests of its membership through advocacy, education, services, grassroots efforts and the leadership of the Board of Directors and professional staff. The work of the National Committee is directed toward developing better-informed citizens and voters.

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