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News Ticker from FNC

Tuesday, October 19, 2010

Economic Education

Too Little Too Late: Obama's Proposed $250 Rebate to Seniors Unlikely to Sway Election, Analysts Say -
"President Obama and Democrats have proposed a $250 rebate to seniors who are not getting a cost-of-living increase in their Social Security benefits for the second year in a row, but critics are suggesting the promised pay-out is merely intended to sway the senior vote -- and likely won't even succeed in that, with the midterm election two weeks away"
Okay two questions come immediately to mind:

  1. where are they coming up with the money to give the rebate? with the deficit the way it is ... where the heck are they going to come up with the Billions needed for this one?
  2. what can $250 for an entire year do to help the elderly? That is a little over $20/month ... that's not even a trip to the grocery store - that's not even a week's worth of meds for most of them ... that will do absolutely NOTHING to help the elderly.
it certainly isn't going to help them keep their homes, which many were inticed into remortgaging with one of those 'reversed mortgages' systems you see advertised on tv by old time tv/movie stars late at night. It is really really sad.

This is beginning to sound like the issues of the early 70's when there were senior citizens who had to eat canned pet food to make ends meet.

this is really sad - and its going to get so much worse.  This time we will find it worse than the 70's because this time the elderly will have no place to go since so many of their kids are out of work/homes too.

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