50 milllion retirees are receiving $250 payments from the government over the next few weeks as their share of the $787 billion package is enacted. Let's do some quick math... 50,000,000 x $250.00 = $12,500,000,000.00. The government is spending over $12 billion to stimulate the economy by giving retirees a lousy $250.
Economists say the payments will help out just as the recession is showing signs of easing a little. I'd like to know what economists are saying this... maybe Denture Cream, Model Airplanes, and Cribbage Boards see a boost, but $250 doesn't go far these days.
The $600 stimulus for the rest of America didn't work, what makes them think this will have an effect? The checks are going to those who receive Social Security, Supplemental Security Incom, railroad retirement or veteran's disability benefits. Maybe that $12.5 billion should just go towards Social Security! The government know that the fund is going to run out when all the baby boomers start taking payments so why not start funding it with extra money now?
Or better yet spend it on something to actually help the economy in the long run. We're putting a $250 band-aid on a trillion dolllar knife wound.
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