David Francis of the Christian Science Monitor
says yes.
To seriously answer this question, I'd think you'd have to ask:
- Are they being treated worse by Social Security than other participants? The answer to that is no: receiving a zero COLA when inflation has been negative is much better than receiving a positive COLA that merely keeps up with inflation.
- Are seniors suffering more due to the recession than other Americans? Again, I'd say the answer is no: they're not affected by higher unemployment, most low-income seniors have relatively few assets to be affected by financial markets, and their biggest source of income – Social Security – is continuing to pay benefits.
- Will the payment to seniors stimulate the economy better than other uses of the money? Probably not – I'd rather focus on job creation – but that's an open question.
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