Bret Baier: We told you last week that there will be no cost of living increase next year for more than 50 million Social Security recipients because of an absence of inflation, but the Obama administration wants to send seniors a check for $250 anyway. Well, apparently, the rules of how to actually get that check have just come out.

Voice: In these tough times, President Obama is pleased to offer America’s seniors $250 bonus. To receive your money, simply go to 250bonus.gov and print out the six-page form. Upon completion of the form, hand-deliver it to Social Security headquarters in Washington, Room 740 7th Floor. Sorry, no elevator access. You’ll be given a unique 17-digit code, which you enter at the US Treasury’s toll-free number when you hear the prompt. Please listen carefully as the 24 menu options have recently changed. You’ll receive Form SP-250 within 6 to 8 weeks. Complete the form, have it countersigned by your local postmaster, then just scan it, convert it to a PDF file and send it as an email attachment to your nearest Federal Reserve Bank. That’s all there is to it.

Bret Baier: Thanks for inviting us into your home tonight. That’s it for Special Report; fair, balanced and unafraid.

Bill: Joining us for more on this is Dina. So does the government have anything left now to sweeten the pill for those on Social Security?

Dina Gusovsky: Indeed they do. Now millions of Social Security recipients, as you said, will not see an increase in their monthly payments next year, because the cost of living has decreased. But, the federal government says it’s going to give them a onetime payment of $250, which of course will cost the government billions of dollars, considering how many seniors there are. So, is this really warranted, and how much is it going to contribute to the national debt?

Well, joining me is Gerald Celente from the Trends Research Institute. Mr. Celente, thank you so much for speaking to me. So, help me understand this – if the cost of living is decreasing, then why are seniors getting anything at all?

Gerald Celente: Well, first of all, the cost of living isn’t decreasing. What they are doing in Washington is the same thing they do on Wall Street. They cook the book. What they’ve done is they’ve cooked the cost of living. For example, one time it used to be a fixed basket of goods. Now it’s a variable basket of goods. So let’s say that the price of gasoline goes up, they say, “Oh, no no. It really didn’t go up. The quality of air went up, so therefore, the cost of gasoline went down.” They’re doing everything they can to shortchange the people. So it’s going to cost the government 13 billion dollars to give the people a couple of bucks that they will hardly feel at all.

Dina Gusvsky: Well, that’s another thing I wanted to ask you. Where did they come off with this figure? What’s $250 going to do?

Geralnd Celente: Well, they’re just making something up, just like they make up the numbers. These numbers have nothing to do with reality. The reality is that what they’re measuring now is a declining standard of living. So let’s say at one time they measured you going into a retail store and buying some clothes. Now they’re going to measure you going into a discount store, or a dollar store, to buy your goods and services. They didn’t even take into account the rising prices of housing. The way they measure it is, “How much can you rent your house for? Even though, let’s say, you are paying $4,000 a month for that mortgage, you can only rent it for $1,500, so therefore the cost didn’t go up, it went down.” They’re cooking the books just like they do on Wall Street.

Dina Gusvsky: So is this essentially a political move, because these payments are going to be issued just before the mid-term elections. Is this kind of a bribe, would you say, because politicians rely on seniors to vote?

Gerald Celente: Of course it is. The people are seething from the tens of billions of dollars that executives are getting in pay, and the Wall Street bonuses that were given to them, via the people, through the bailout programs. So they’re throwing the people a couple of crumbs to keep them quiet and to say, “Hey, we’re in your corner and we’re doing the best we can to help you”. It’s political jive talk.

Dina Gusvsky: Is this a second stimulus then? Because the government has been very careful about how it words this. What do you think?

Gerald Celente: Well, it’s not a stimulus. But what it is doing is that the effect is the same. Follow the dollar and follow gold prices. Gold prices are hitting historic highs. The dollar is now worth 16% on year, and what it is doing is it is devaluing the dollar and a continuation of very, very irresponsible Federal Reserve policies. It’s just building up more debt, that’s all it’s doing.

Dina Gusvsky: Well, speaking about that, how does Barack Obama plan to finance this? He hasn’t been clear on that, either.

Gerald Celente: Same way they finance everything, by just selling more debt. They’re monetizing debt, and so that’s all we’re seeing, again. The results can be seen on the markets. Current events form future trends. You know, they’re talking about the DOW hitting 10,000. Well, the DOW first hit 10,000 ten years ago. Since that time, the dollar has lost 36% against the Swiss franc and the euro. Ten years ago an ounce of gold was selling at $280/ounce, not $1,050/ounce as it is today. And ten years ago, a barrel of oil was going for under $17, not nearly $77 a barrel. So you can see what they’re doing; devaluing the dollar. The cost of living index is really just chasing America’s lowering standards of living.

Dina Gusvsky: That’s a very interesting point, Mr. Celente. I want to thank you for your analysis, as always. And right now I’m going to throw it back to you in Moscow, Bill. But we will be here in just one hour bringing you another live up-to-date report.

Bill: Thanks very much indeed, Dina. And as Dina says…

Senator Bernie Sanders: On October 15th, it is expected that social security administration will announce for the first time in 35 years that seniors will not receive a COLA. Based on the formula, that by law they are obliged to use, they came to the conclusion that there is no inflation this year for seniors, and in fact their understanding is that prices for seniors have declined.

In my view, that is a wrong formulation. And I believe that it simply does not accurately reflect the purchasing habits of seniors. Seniors right now – I know this will come as a great shock – are not rushing out to discount stores to buy laptops, computers or iPods. What seniors now are purchasing, what they need, is health care prescription drugs. And the evidence is overwhelming that seniors spend a disproportionate percentage of their limited incomes on health care and prescription drug needs. And those costs, sadly, are not declining. They are, in fact, going up.

Rep. Peter DeFazio: As Senator Sanders noted earlier, a much more accurate measurement of the poverty level for seniors would show that it’s twice what we measure it at. We don’t have a good measure of what the inflation rate is for seniors. But we do know that pharmaceutical costs continue to escalate, medical care costs continue to escalate. Their rents or mortgages haven’t gone down. Their utilities have likely gone up. You know, nothing else that they have to consume has gone down in price over the last year. So, this modest $250 one-time payment to seniors would be basically equivalent to a 2% cost of living adjustment. It would help them meet some of those bare necessity costs.

Barbara B. Kennelly: And I am here today to deliver a 120,000 petitions saying “Hey, guess what? We need a COLA! Guess what, we’ve got some problems! We are the seniors of the United States. We are the seniors that built this county to be the country it is.” And I’m so delighted that these gentlemen are right behind that.

Let me give you the facts – 43% increase in Part A since 2000, 50% increase in Part B since 2000. Part D – now listen to this – Part D has a 130% increase. Those are prescription drugs.

Senator Sheldon Whitehouse: In Rhode Island, our seniors have a bigger proportion of their income come from social security than almost any other state. And we have seen, with real impact, what the other speakers have described. Which is – seniors seeing electric utility rates go up, seniors seeing pharmaceutical costs go up, seniors seeing all the real costs of their living go up. And with no real help in sight.

Senator Bob Casey: The least that we should do in the midst of the terrible recession, for older citizens and for families all across the country, is to make sure that we can provide some measure of relief that this legislation provides. That’s why we support it, no matter when it would come up, but especially in the midst of this economic darkness that so many families, so many older citizens have had to endure.

Rep. Maurice Hinchey: A failure to provide a Social Security COLA in 2010 for seniors would be a very critical mistake and have a very negative impact on them. And also, given the economic circumstances our country has faced over the course of this past year – actually, over the course of past two years – this economic downturn has pushed a decline in the standard of living of many seniors. Many have seen their home values drop, their pension funds severely decline, and their savings, in many instances, undermined and disappearing.

Estelle Lenet: My name is Esther Lenette and I am a resident of Montgomery county, Maryland. I’m 91 years old, and blessed to still be living independently. My only source of income is Social Security and I want to say that without Social Security, I don’t know where I’d be today. I really don’t. Getting a COLA next year doesn’t mean I’m going to be able to live extravagantly, but it means that I can keep up with my financial responsibilities and pay for the basics, especially the medical care that helps me stay independent. My thanks to the members of Congress for working to pass a COLA for seniors. Thank you!

Law Does Not Provide for a Social Security Cost-of-Living Adjustment for 2010

With consumer prices down over the past year, monthly Social Security and Supplemental Security Income benefits for more than 57 million Americans will not automatically increase in 2010.  This will be the first year without an automatic Cost-of-Living Adjustment (COLA) since they went into effect in 1975.

“Social Security is doing its job helping Americans maintain their standard of living,” Michael J. Astrue, Commissioner of Social Security said.  “Last year when consumer prices spiked, largely as a result of higher gas prices, beneficiaries received a 5.8 percent COLA, the largest increase since 1982.  This year, in light of the human need, we need to support President Obama’s call for us to make another $250 recovery payment for 57 million Americans.”

The Social Security Act provides that Social Security and Supplemental Security Income benefits increase automatically each year if there is an increase in the Bureau of Labor Statistics’ Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) from the third quarter of the last year to the third quarter of the current year.  This year there was no increase in the CPI-W from the third quarter of 2008 to the third quarter of 2009.  In addition, because there was no increase in the CPI-W this year, under the law the starting point for determinations regarding a possible 2011 COLA will remain the third quarter of 2008.

Some other changes that would normally take effect in January 2010 based on the increase in average wages also will not take effect, even though average wages did increase.  Since there is no COLA, the statute prohibits an increase in the maximum amount of earnings subject to the Social Security tax as well as the retirement earnings test exempt amounts.  These amounts will remain unchanged in 2010.  The attached fact sheet provides more information on 2010 Social Security changes.

Information about Medicare changes for 2010, when available, will be found at www.Medicare.gov.  The Department of Health and Human Services has not yet announced if there will be any Medicare premium changes for 2010.  Should there be an increase in the Medicare Part B premium, the law contains a “hold harmless” provision that protects about 93 percent of Social Security beneficiaries from paying a higher Part B premium, in order to avoid reducing their net Social Security benefit.  Those not protected include higher income beneficiaries subject to an income-adjusted Part B premium and beneficiaries newly entitled to Part B in 2010.  On September 24th, the House passed legislation by 406-18 that would, on a fully paid-for basis, prevent abnormally large premium increases.  The President is calling on the Senate to enact this legislation before it becomes too late for the Social Security Administration to update its computer systems to implement this needed change.

For additional information about the 2010 COLA, go to www.socialsecurity.gov/cola.

What about you? Did you receive your stimulus check? Or are you still waiting?

If you did get your Social Security recovery payment, what did you do with it? Paid some bills, went shopping, set it aside for a rainy day?

Speaker: Dead people being stimulated.

No, no, no, we’re not talking about necrophilia here. We’re talking about hundreds of thousands, hundreds of thousands of stimulus checks that have gone out to people who are dead. [Only 8,000 to 10,000 according to the SSA] That’s right folks. People who are dead are getting stimulus checks.

One example of this was a guy who had left America, he was an American citizen, he left America for 34 years, came back for a year and then went back to Italy again and then died there 34 years ago, and he got a check in the mail. That’s right, folks. They’re sending checks to people who died 34 years ago.

So that’s one thing. Hundreds of thousands of checks to dead people. If they’re making that mistake who knows how many checks are going to illegal aliens? Who knows how many checks are going to people who are never in the system. This guy who died 34 years ago was never in the Social Security system. How is he getting a check?

I’ll tell you how he is getting a check. They just basically said, “Send money to everyone. Bribe the entire country. Legal or not, American or not, it doesn’t matter. Just bribe the country into thinking everything is wonderful”.

And you know what’s funny? When Bush did this, when Bush sent out those $300 checks everybody laughed. They even joked about it on all sorts of different episodes of different shows. And now Obama sends out $250 checks and everyone is supposed to be happy?

It’s nothing. It’s less than nothing. It won’t help at all. What we need is less government intervention in our lives, lower taxes, etc, etc. and I’ve talked about this until I’m blue in the face, so I’m going to say that’s it from me today. Check out FreedomBunker.com for more like this. Until next time don’t forget to think freedom.

James Hagner: It shocked me and I laughed all at the same time and though how in the world could they do this.

TV Commentator: 83 year old James Hagner says he isn’t too big on surprises, but he got quite a big one when he visited his mailbox last Thursday.

James Hagner: I got a check for my mother. She has been dead 43 years, and I got a check for my mother. The $250 stimulus check in the mail.

TV Commentator: As part of President Obama’s American Recovery and Reinstatement act, the Social Security Administration somehow mailed a $250 stimulus check to his mother Rose, who passed away Memorial Day 1967.

James Hagner: I didn’t even expect to get one for myself, but to get one for my mother from 43 years ago…

Interviewer: kind of strange, right?

James Hagner: Yes sir.

TV Commentator: We contacted Social Security representatives over the phone and they told us there is a good explanation here. First of all, Social Security has mailed or is mailing out 52 million checks, and of those 8 to 10,000 have been sent to people who are deceased. Social Security blames the error on the strict mid-June deadline for mailing out all the checks which didn’t leave officials much time to clean up all their records. So that means there are 8 to 10 thousand James Hagners all over the country getting the same surprise in the mail box. The thing is what do you do with the check? Social Security kindly asks that you return it. As far as Hagner is concerned, he would like to frame it and hang it on a wall.

James Hagner: I just want to keep it as a souvenir. That’s all. I will never cash it.

“[...] the important thing for people to remember is that about half the money is going out today. If you have direct deposit you will get it today. If you’re not in that half, paper checks take a little longer. Money will be going out over the next 3 weeks. So if you don’t have it today, don’t panic. Wait until June 1st, June 4th and then call us if there is a problem. But we’ve done this before, usually we’re pretty good about getting the checks the right place.”

If you haven’t received your $250 stimulus check yet, don’t despair. Chances are that it’s on its way and that it will arrive within the next couple of weeks. Wait until June 4th before you follow up, and feel free to post a comment below as soon as you received your check!

News Anchor: Government spending of a different kind, the kind that many in America are probably happy to see. Today recipients of Social Security will begin to see a little more in their mail boxes or in their bank accounts if it’s an electronic transfer. It is the day that the SSA begins mailing out the first of over 52 million Economic Recovery Act payments. Joining us on a Fox Business exclusive is Michael Astrue. He is the commissioner of the Social Security Administration, Michael welcome.

Michael Astrue: Thank you.

News Anchor: 250 bucks?

Michael Astrue: 250 bucks.

News Anchor: To everybody on Social Security?

Michael Astrue: 52 million Americans.

News Anchor: One-time payment or every month?

Michael Astrue: One-time payment.

News Anchor: Okay, now I guess you guys have done a survey on what people may spend. What are they doing to do?

Michael Astrue: Well, survey would be too scientific, but we’ve had 4,100 Americans go on our website and explain what they were going to do with the check. And it goes from the very mundane like, “I’m going to buy tires, I’m going to buy furniture” to very moving story by a woman who is dying of lung cancer buying things for her children. Most of them indicated they’re going to spend it. Only about 2% said they were going to save it, 98% so far said they were going to be spending it.

News Anchor: So it will go back into the economy?

Michael Astrue: Right, it fits with what Congress was trying to achieve in having it go right back in the economy.

News Anchor: The money is coming from the stimulus plan?

Michael Astrue: It’s coming from the stimulus plan. And the important thing for people to remember is that about half the money is going out today. If you have direct deposit you will get it today. If you’re not in that half, paper checks take a little longer. Money will be going out over the next 3 weeks. So if you don’t have it today, don’t panic. Wait until June 1st, June 4th and then call us if there is a problem. But we’ve done this before, usually we’re pretty good about getting the checks the right place.

News Anchor: I know $250 to a lot of people might seem to be a lot of money, but as a whole, you wonder if the economic impact is going to be great enough to justify the long term cost.

Michael Astrue: Right. I think what they’re trying to do now is to get money quickly into the economy. And you look at an average sized state, you’re getting a quarter billion dollars all of a sudden into the local economy. And the economic thinking is that we need to do at least as much as we’ve done to try to give a little bit of the stimulus… get local economies back faster than they would otherwise do. So the thinking is that it’s not really a long term investment, it’s to get people spending, it’s to get some of those businesses and the people on the margin spending and staying on their feet.

News Anchor: I’m 37.

Michael Astrue: You’re a lot younger than I am.

News Anchor: Is Social Security going to be available for me?

Micheal: Absolutely.

News Anchor: Can you please tell it’s going to be available, because every month I’m putting money into it.

Michael Astrue: No, it’s going to be there. We need…

News Anchor: But I got to tell you, to be honest with you, I’m planning like it won’t be around. I hope it’s there, but as I create as my own family financial plan, I assume it will not be there.

Michael Astrue: I don’t want to be too critical of that because as a nation we went to a negative savings rate briefly right before this recession hit and hopefully this will be a learning moment for the country, and as the economy gets better we will remember that we brought some of this on ourselves by getting away from some of our traditional values of thrift and savings.

But, the trustees’ report is next week, the funds as of last year were fully solvent through 2041. And even after that date if Congress did nothing, people would be getting 78% of their benefits. That’s not perfect, but I think as the President has said and I think as the senator said yesterday in the Washington Post, it’s a math problem. It’s pretty obvious what needs to be done. We have relatively limited number of choices, some political pain. I think it’s going to get done if not next year, within the next couple of years.

News Anchor: Do you foresee a possibility that the age… we’re living longer. The average age of an Americans female is now about 81. Men are living about 3 years less, unfortunately, that we might have to raise that age cap a little bit.

Michael Astrue: It’s one of the topics that’s entered discussion.

News Anchor: We have already.

Michael Astrue: At some point there are only two ways to do it: you increase revenues or you decrease benefits in some way. The last time Congress did this they did raise the normal retirement age. That’s already being debated and discussed. But I don’t think anything is set yet, it is not clear what Congress will do when Congress really starts focus on that.

News Anchor: It’s an interesting process done by people much smarter at math than I am. Okay, we got to go to the President. We’re going to leave it there Michael Astrue, commissioner of the Social Security Administration, welcome you back anytime.

Michael Astrue: I’d love to come back any day.

No, it will not.

What must I do to receive my Social Security stimulus payment?

No action is necessary. The Social Security Administration has all the information they need to get your payment to you.

Will I receive a stimulus check if I have a delinquent federal debt?

It depends. The Treasury Department will offset the checks to collect delinquent child support and debts owed to state and federal agencies. On the other hand, the one-time payment will not be used to collect Social Security or SSI benefit overpayments.

If I don’t receive my Social Security stimulus check payment by the first week of June, what should I do?

After June 4, 2009, you may contact your local Social Security office or call their toll-free number, 1-800-772-1213 to tell them your payment has not arrived. Please wait until then to ask about your payment because earlier calls may slow down the service.

Will the one-time Social Security stimulus check change the amount or delivery date of my regular Social Security or SSI benefit?

No, the one-time payment will have NO effect on your regular Social Security or SSI benefit. The SSA will deliver the one-time payment separately from your regular benefit.

Will the $250 stimulus check count as income for SSI?

No, it will not.

If I have a representative payee, who will receive my Social Security stimulus check?

If you have a representative payee, the SSA will deliver your one-time payment to your representative payee. Your representative payee is required by law to use the payment for your benefit.

Will the stimulus payment count as a resource for SSI?

The payment will not count as a resource in the month you receive it or the following 9 months. For example, if you receive the one-time payment in May 2009, it would not count as a resource from May 2009 through February 2010. If you still have this money after February 2010, it will be counted as a resource starting in March 2010.

If I receive Social Security or SSI and also get Veterans or Railroad Retirement benefits, who decides whether I get an economic recovery payment?

If you receive benefits from Social Security and Veterans or Railroad Retirement benefits, Social Security will determine if you are entitled to the payment. Remember, you will receive only one payment regardless of how many different benefits you currently receive.

No, children under the age of 18 (19 if still in high school) who receive Social Security benefits are NOT eligible for stimulus check. However, disabled adult children will receive a payment.

Are children who receive SSI benefits eligible for the one-time Social Security stimulus check?

Yes, disabled children receiving SSI are eligible for the one-time stimulus payment.

Nearly 55 million Social Security and SSI beneficiaries will receive a one-time payment of $250 each. To receive a payment, the beneficiary’s address of record must be in one of the 50 states, the District of Columbia, Puerto Rico, Guam, the U.S. Virgin Islands, American Samoa, or the Northern Mariana Islands.

When can I expect to receive my Social Security stimulus check?

The Social Security Administration plans to pay all eligible Social Security and SSI beneficiaries by late May 2009, so you should expect to receive your payment no later than the first week of June 2009. The one-time payment will be a separate payment, which will not be included in your regular monthly benefit payment.

Has anyone received their stimulus check yet?

At least one SS.com poster has confirmed that her friend already received the check.

How will I receive my Social Security stimulus check?

The SS Administration will deliver your payment in the same way they currently deliver your Social Security or SSI benefit.

Are individuals entitled to more than a single stimulus payment?

No, individuals may receive only one $250 stimulus payment regardless of how many types of benefits they receive. An individual receiving Social Security and SSI or an individual receiving Social Security and Veterans or Railroad Retirement benefits will be entitled to only one payment.

If my spouse and I both receive Social Security or SSI benefits, will we each get a one-time stimulus check?

Yes, if you are married and both you and your spouse are receiving benefits from Social Security or SSI, you each will get the one-time payment.

Who decides whether I get a stimulus check or not?

The Social Security Administration will determine who is eligible under Social Security or SSI. The Railroad Retirement Board and the Department of Veterans Affairs will determine who is eligible under their respective programs.

Are beneficiaries from other federal programs eligible for this one-time stimulus check?

Yes, individuals receiving benefits from the U.S. Department of Veterans Affairs or Railroad Retirement Board may be eligible for these one-time payments.

I became eligible for benefits in February 2009. Will I receive the one-time Social Security stimulus check?

No. Only individuals eligible for Social Security, SSI, Veterans, or Railroad Retirement benefits at any time during the months of November 2008, December 2008, or January 2009 may be eligible for the check.

This means that you should receive your payment no later than the first week of June 2009.

You will receive your payment the same way you currently receive your Social Security or SSI benefits. If that’s by check, you’ll receive your stimulus payment by check. If you get your monthly payments by direct deposit or debit card payment, that’s how you’ll also receive your stimulus cash.

The “Social Security stimulus check” is a one-time economic recovery payment of $250. It won’t be repeated so make sure you spend it wisely.

Note: If you’d like to remain anonymous, enter “Anonymous” or make up a name.

Though accurate estimates are difficult to make at this moment, the Congressional Budget Office (CBO) envisions that only after 2012 will there be any cost-of-living adjustments and that those adjustments will be as small as 2% per year, until 2019.

The increases in cost-of-living are annually adjusted according to the consumer price index. This index measures the prices paid by an urban consumer for goods and services. Since 1975, every year brought cost-of-living increases: as high as 14.3% in 1980 and as low as 1.3 percent in 1986 and 1998.

Though we cannot expect impressive cost-of-living increases in 2010 and in the following years according to the CBO, Social Security beneficiaries will receive a onetime payment in May due to the American Recovery and Reinvestment Act issued this year. The amount of money each Social Security recipient will receive as a stimulus check or deposit is $250.

In a surprise Youtube video address to the nation, President Barack Obama revealed this morning that the promised Social Security stimulus checks to be sent to 51 million Americans would come in the amount of $25,000 rather than $250.

Addressing seniors, the President announced, “You said that $250 wasn’t enough. You said that you worked hard and deserved more. You said that we should give the stimulus money to everyday people and not to our cronies.”

He paused, then continued: “I listened to you. This morning, I gave instructions to increase your stimulus checks from $250 to $25,000. All I ask is this: Help me stimulate the economy. Spend at least half of the money within the first week. I never said it was going to be easy. But with this measure, I’m doing my part to help the nation. Now take the money and do your part to spread the wealth around.”

However, inside sources revealed that a low level employee at the Social Security Administration had spilled some coffee on the order instructing the stimulus checks to be printed, thereby smearing the ink that spelled out “$250″, making it look like “$25,000″. President Obama was informed only after the checks had already been printed and prepared for mailout. It is said that he immediately recorded his speech to the nation, ignoring Vice-President Joe Biden’s pleas to be allowed to claim credit for the fortunate mistake.

Seniors around the nation convened in the streets to celebrate the announcement. “Now that’s change I can believe in”, said Weldon S. Rodriguez, 72, from Tampa, Florida. “This is better than Christmas”.

Susan R. Birdsall, 68, from Worthington, Ohio, was quoted as saying, “When I first heard this, I thought it was the first of April. But it’s true… Thank you, President Obama.”

But not everyone was happy. Bhaskara Gwilim Reto, 25, a former real estate investor from Miami, wrote on his blog, “That’s unfair. Where’s my money? And I voted for this guy….”

Watch Obama’s video here.

Note: This is an April Fool’s Joke. It was posted on April 1, 2009. None of this is true, although many of us would have rejoiced if Obama had given us more money. After all, it was our money in the first place, and all the “stimulus package” does is redistribute wealth from the poor to the rich.

Vice President Joe Biden and Michael J. Astrue, Commissioner of Social Security, announced today that the federal government will send out $250 economic recovery payments to people who receive Social Security and Supplemental Security Income (SSI) benefits beginning in early May 2009 and continuing throughout the month. No action is required to get the payment, which will be sent separately from the person’s regular monthly payment.

“The Social Security Administration and Commissioner Astrue have been working closely with other federal agencies to get these payments out the door in record time and into the hands of folks who need it most,” said Vice President Biden. “These are checks that will make a big difference in the lives of older Americans and people with disabilities – many of whom have been hit especially hard by the economic crisis that has swept across the country.”

“We have been working diligently to issue the $250 one-time recovery payments as soon as possible,” Commissioner Astrue said. “The legislation requires extensive coordination with other federal agencies and I’m pleased we are on track to issue these recovery payments earlier than the statute requires. Soon more than $13 billion will be in the hands of more than 50 million Americans.”

The American Recovery and Reinvestment Act of 2009 provides for a one-time payment of $250 to adult Social Security beneficiaries, and to SSI recipients, except those receiving Medicaid in care facilities. To receive the payment the individual must be eligible for Social Security or SSI during the months of November 2008, December 2008 or January 2009.

The legislation also provides for a one-time payment to Veterans Affairs (VA) and Railroad Retirement Board (RRB) beneficiaries. The VA and RRB will be responsible for paying individuals under their respective programs. However, if someone receives Social Security and SSI, VA or RRB benefits, he or she will receive only one $250 payment. People getting Social Security or SSI should not contact the agency unless a payment is not received by June 4, 2009.

For more detailed information about the $250 one-time economic recovery payments, go to www.socialsecurity.gov/payment.

To learn more about the American Recovery and Reinvestment Act of 2009, go to www.recovery.gov.

The first program is the Making Work Pay Tax Credit, which will decrease the amount of taxes withheld from each paycheck over the next several months. This will be claimed on the ‘09 tax returns, so that it will not reflect on the end of year refund. Instead, you can expect between $400 (for a single worker), or $800 (for married couples) more, broken up into about a $30 – $60 increase on each paycheck until the amount is covered.

While it may not seem like much, it is a significant enough raise in income that should allow a number of small boosts to the economy each month, and will help households to have a little bit left over after bills are paid.

The second program is for anyone who is earning Social Security, or getting any kind of railroad or government retirement payments every month. Instead of a small amount more on every check, there will be a one time payout of $250, to be issued in a separate check, as part of the Economic Recovery Payment.

There will also be a majority of people laid off this year who will be eligible for a tax credit when they file in 2009. This can be determined by visiting the IRS website, or by calling your local IRS office.

Worried about this causing tax filing to become more complicated? Anyone earning less then $42,000 a year will also qualify for free tax help, through a number of tax assistance programs within your state.

Millions of Americans are set to receive a $250 payment from the administration. The American Recovery and Reinvestment Act of 2009, which was signed into law by President Barack Obama, is offering the benefit.

Those who get their benefits by direct deposit will get their free money transferred electronically, and for others it will be by paper check delivered via mail. Recipients with a Direct Express debit card will get their payments via the card itself.

Most of the payments will be completed until the end of May. Contact the SS Administration Office only after June 4 if you didn’t get a payment till then.

Who Benefits from Obama’s Stimulus?

Anybody who receives both SSI or Social Security benefits will receive a single payment of $250.

Beneficiaries of Department of Veterans Affairs and Railroad Retirement benefits will receive a single time payment according to the stimulus bill.

Note: Even if a person qualifies for benefits in more than one category then also the person will be paid only once.

I have good news for you, I got the news for you
money’s on its way.

I thought you’d like to know my friends
about this great news
about this great news
about this great news
today.

If you’re on Social Security, SSI, SSDI or get Social Security benefits, you are going to get a little bonus in your paychecks. Don’t spend it all in one place. It’s only $250, and the Social Security Administration wants you to know, those checks will take a little time to get out, so you might not receive yours until late May 2009.

Well, with over 55 million checks to send out, you know, they can only print so many a day and mail so many a day. Now, you will get your payment the way that you normally receive your payment; by mail or direct deposit.

If you have any questions about this one-time payment of $250 as part of the stimulus plan, you can go to the website SSA.gov and look it up there, or you can call their toll-free number. But I thought…

I’d share this good news with you
make your happy day
that you’re gonna get some money
and it will soon be on its way.

So don’t worry or fret
if you do not get it
right away
because they say
it might not come until May
but be glad it’s coming anyway.

Woooha! Yes! Hope you’re having a positively terrific day, and remember, love wins, and cash pays the bills. Hahaha. See ya… bye

Those who are “wage earners”, meaning you don’t get a “salary” will be seeing a $400 tax credit. This will be added to your paychecks. If you earn over 75k per year, you likely wont see any of these credits. If you are buying your first home, you will also receive a hefty tax credit valued at $8,000.

If you are considering a new vehicle purchase, this bill can also help you. Those earning under $125k as a single person will be eligible. This deduction is available on all vehicle purchases that include cars, sport utility vehicles, and trucks.

Other benefits include; help for self-employed, economic add-ons to social security receivers, and tax credits for having a low income family that involves children. Social Security recipients will be looking at a $250 check, and they do not need to apply for anything or send out any papers. All of these benefits are said to add up to help for just about everyone, except for those earning high salaries. Most deductions and tax credits will not include individuals who are earning over $75,000, or $125,000 as a single filer.

In addition to all of those benefits, food stamps will also see a slight increase of about 13.6%. This could make the difference between a meal one night, or no meal. In 2008 taxpayers received generous stimulus payments, but this year you will be seeing your payments divided up amongst your paychecks. You will not be getting one lump sum, so forget about that vacation in Mexico.

“Social Security’s Economic Recovery One-Time Payments Information Page

President Obama recently signed the American Recovery and Reinvestment Act of 2009. This act provides for the one-time payment of $250 to individuals who get Supplemental Security Income (SSI) or Social Security benefits.

We expect everyone who is entitled to a payment to receive it by late May 2009. No action is required on your part.

We are currently working on the details regarding how we will issue nearly 55 million one-time payments to our beneficiaries.

When more information becomes available, we will promptly post it here. Please bookmark this site and check back regularly. Thank you.”

SS.com will follow the story as well so check back frequently. Our readers will also report as soon as they receive the first check.

When will you get your stimulus check?

The stimulus bill instructs the Treasury to send the check “as soon as possible”. In other words, the check is probably in the mail, and if not, it will be soon. Let us know in the comments section as soon as you received anything.

P.S. What if you’re are a retired government employee and don’t receive Social Security benefits (e.g. if you live in Massachusetts)? You will still get the $250 check. Thank Sen. John F. Kerry and Rep. Richard Neal for it as they promoted this provision.