Social Security Stimulus: There’s No Reason to Wait for a $1,400 Check Anytime Soon
TSCL, a non-partisan advocacy group, launched a lobbying campaign in October to encourage Congress to provide Social Security recipients with additional stimulus funds. Last year’s historic rise in the cost of living has been rendered moot by rising inflation, and there is no stimulus money insightThere’s No Reason to Wait for a $1,400 Check .
As GOBankingRates previously reported, the letter to Congress begs for a one-time $1,400 Social Security stimulus payment for seniors. To name just a few drastic measures many seniors have had to take due to inflation this year, the article states: “We’ve heard from thousands of them [seniors] who have exhausted the retirement savings, who have started eating just one meal a day, who have started cutting their pills in half because they can’t afford their prescription drugs.”
Read More: A Day Before the Highest Inflation in 40 Years, Federal Stimulus Checks Run Out: The States Help Their Residents with Relief Packages
Has a check been written?
KGW’s VERIFY team spoke with TSCL’s Social Security and Medicare policy analyst Mary Johnson, and she expressed hope that “a provision may be included in relevant budget legislation later this fall.”
The stimulus check would not be adequate for the elderly, despite the fact that it is possible. In order to keep up with inflation, as previously reported by GOBankingRates, monthly social security benefits would have to be $540 greater than they were 22 years ago.
“For every $100 worth of goods or services that retirees bought in 2000, today, they would only be able to buy $60 worth.”
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