Its editorial “Congress should play by the rules” points out “…the rules of the Social Security system say that inflation, not financial downturns, determine the size of increases to [Social Security] recipients…But the inflation rate has been negative this year… The deflation prompted the Social Security Administration to announce on Thursday that there would be no cost-of-living increase for 2010.”
It continues: “Unhappy with the decision, the administration and Congress are pushing forward with the $250 payments…How will the government pay for the $250 payments, which are projected to cost $13 billion (sic). …Further mortgaging the future of seniors’ children and grandchildren is an unacceptable solution.”
WATCHDOG: Well said. Two wags of the tail!