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Biden wants to give people on Social Security an extra $200 per month. Did it pass and when does it go into effect?
- Mr. SmartypantsLv 71 month ago
Biden wants to use federal money to stimulate the economy. That's not a radical idea--Republicans do it too! They just spend the money on different things. Ronald Reagan pulled us out of a multi-presidency recession by massive spending increases, tripling the whole national debt!
Biden's thrown out a LOT of ideas about how to do this. Forgive some student loans, lengthen unemployment benefits, pay for health insurance (COBRA) of some people who lost their jobs because of COVID, etc.etc. One of these ideas is to increase Social Security payments (because retirees are ineligible for some other benefits proposed for working people!) These are all just -ideas-. Biden doesn't control the purse-strings. Congress does that.
In fact Biden has worked out a way to LOWER SS payments (a little). Social Security is supposed to get regular adjustments for the rising cost of living. In the last few decades we haven't had out-of-control inflation. The COLA (Cost of Living Adjustment) has always been based on the cost index for working people, but Biden has decided instead to base it on the cost index for RETIRED people, and retirees spend their money differently. This has caused the COLA this year to be 1.3%, instead of 1.5%. This costs ME (a happy Social Security recipient) about $2/month. But I get paid more than the average retire, so for most of us it will be a little less than $2.
Republicans will vote against it. Anything that helps people they against.
They probably deserve it. They worked all their lives.
- Anonymous1 month ago
We should pass universal basic incomeSource(s): everyone should have social security