With the economy still struggling, it's understandable many Social Security recipients are upset and worried by the news they won't get a cost-of-living-adjustment next year.
Wall Street's plunge since mid-2008 has reduced their stock investments, although the recent bounce has restored some of those funds. Home values have declined. And while Medicare covers much of the health care costs for older Americans, some expenses are soaring, especially for critically needed prescription drugs.
Given that background, President Obama's response to the latest news may be well intentioned. But it isn't fiscally sound.
Obama wants to send $250 checks to tens of millions of seniors, disabled persons and others -- a new $13-billion-plus expense on the backs of already hard-pressed American taxpayers.
The plan also would set an undesirable precedent of allowing politicians to decide how much Social Security recipients should receive, rather than properly relying on a statistical model.
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