Obama SSD stimulus deposits went into bank accounts overnight

[Miss Philicia]

Log onto your bank accounts to see.

[BT65]

Nope, mine's not there yet.

Edited to add:  Just checked, it's there.  My bank always waits until after 8:00 a.m. to post anything.

[RapidRod]

Nope not yet. I do know people that received checks yesterday in the mail.

[J.R.E.]

Thats Great !! Every little bit helps !!

Ray

[Miss Philicia]

btw... I need to dig up an article that I read in thethe New York Times that that perhaps  -- oh never mind here it is:

This copy is for your personal, noncommercial use only. You can order presentation-ready copies for distribution to your colleagues, clients or customers here or use the "Reprints" tool that appears next to any article. Visit www.nytreprints.com for samples and additional information. Order a reprint of this article now.

May 3, 2009
Social Security Benefits Not Expected to Rise in ’10

By ROBERT PEAR
WASHINGTON — For the first time in more than three decades, Social Security recipients will not get any increase in their benefits next year, federal forecasts show.

The absence of a cost-of-living adjustment, calculated under a formula set by law, will be a shock to older Americans already hit by plummeting home values, investment losses and rising health costs. More than 50 million people receive Social Security.

“Most seniors have never been through a year in which there was no Social Security COLA,” said David M. Certner, legislative counsel at AARP, the lobby for older Americans. Beneficiaries have received automatic cost-of-living adjustments every year since 1975. The increase this year was 5.8 percent.

In theory, low inflation is good for people on fixed incomes. But it is creating political and policy problems for Congress, which is just learning of the implications for Social Security and Medicare.

The forecasts, by the Obama administration and the Congressional Budget Office, indicate that Social Security beneficiaries will not receive any cost-of-living increase in 2010 or in 2011. The COLA is intended to preserve the purchasing power of Social Security, by increasing benefits to keep pace with consumer prices. In the last year, overall inflation has been low, largely because of the economic downturn and a decline in energy prices.

A freeze in Social Security benefits would have major implications for Medicare because the COLA, in effect, puts a cap on premiums for Part B of Medicare, which covers doctors’ services.

If there is no cost-of-living adjustment for Social Security, about three-fourths of beneficiaries will not see any change in their basic Part B premiums, federal officials said. But some beneficiaries do not have this protection and could face substantial increases in their Part B premiums.

In addition, millions of beneficiaries could see higher premiums for drug coverage, provided under Part D of Medicare.

Social Security and Medicare trustees will describe the outlook for benefits and premiums in their annual reports this month.

Officials have already said the condition of Medicare’s hospital insurance trust fund is deteriorating because of the recession, which has reduced payroll tax revenues, the main source of money for the fund. Spending on Social Security and Medicare totaled more than $1 trillion last year, accounting for more than one-third of the federal budget.

Most people on Medicare have Part B premiums deducted from their monthly Social Security checks. These premiums have historically increased much faster than Social Security benefits.

Under federal law, most Medicare beneficiaries have some protection. Their basic Part B premiums cannot rise more than the dollar amount of the cost-of-living increase in their Social Security checks. So if there is no COLA, their basic Part B premiums will not increase.

But one-fourth of Medicare beneficiaries are not protected by the law, and their premiums could increase.

Most Medicare beneficiaries pay a monthly Part B premium of $96.40. The Congressional Budget Office estimates that the basic premium will rise to $119 next year and $123 in 2011 for those who are not protected under federal law.

Douglas W. Elmendorf, director of the Congressional Budget Office, predicted that inflation would remain low for several years, so Social Security might not pay a cost-of-living increase until January 2013. President Obama’s budget assumes no increase in 2010 or 2011, then a 1.4 percent COLA in 2012.

Mr. Certner, from AARP, described the outlook for consumers: “If, as expected, there is no COLA in Social Security next year but premiums for drug coverage increase, as expected, millions of beneficiaries will see their Social Security checks reduced for the first time.”

[AndyArrow]

   Mines not there yet ... but mine does come through slightly different channels.

[Dwayn20]

Mine didn,t neither?
Scooter

[franfrog]

Mine was ther as soon as I logged on this morning.  Came at a great time, I got a ticket I need to pay.

[RobinL1962]

Thank You!.....mine was there. Was not even thinking about it beining here til much later, so Thank you for the heads up. Can I say "heads up" on here?........ .... LOL

[AlanBama]

YAY !  Mine's there....

          

[Ann]

Can I say "heads up" on here?........ .... LOL

Oh, you can, you can! You'll find heads are often up around here, whether anyone says it or not!

[BT65]

That's not good news at all about social security not going up.  Wow.

[Miss Philicia]

Why should it?  The cost of living is actually decreasing to do -GDP... and it will be doing so for 2 years probably.

My electricity (budget billing) just sent down $20/month.  Food still seems high though, but stable.

[Jeffreyj]

The 5.3% increase is one heck of allot nicer then last years 2.3

Damn right every  bit helps!!!!

[Gary85741]

The Internal Revenue website says the checks (or electronic deposits) will occur on a staggered basis throughout the month of May.  They ask that no one contact them until June 4 if they still haven't received the payment.

I still don't have mine yet.

Gary

[AndyArrow]

I found out the RRB isn't sending out payments until late May so I guess I'll have to patient. 

That's probably a good thing though since there is less of a chance I'll spend it before the August AMG.

[Miss Philicia]

I spent mine on an indulgent purchase that I will not publicly disclose.

[Ann]

I spent mine on an indulgent purchase that I will not publicly disclose.

Another turbo-charged dildo? Come on mate, you can tell us!

[Dachshund]

I spent mine on an indulgent purchase that I will not publicly disclose.

Socialists, the lot of you.

[Miss Philicia]

Another turbo-charged dildo? Come on mate, you can tell us!

Male hookers are cheap on the 12th Street stroll!  It's practically buy one get one free.

[Ann]

Socialists, the lot of you.

Well, you know what they say; better red than dead!

Male hookers are cheap on the 12th Street stroll!  It's practically buy one get one free.

Scotty, beam me up to 12th Street!

[Dachshund]

Male hookers are cheap on the 12th Street stroll!  It's practically buy one get one free.

I guess that's okay. It is a stimulus check after all.

[Ann]

I guess that's okay. It is a stimulus check after all.

And what better to do with a stimulus check than get stimulated? ooooh baby!

[BT65]

And what better to do with a stimulus check than get stimulated? ooooh baby!

Wish I would've thought of that.  Hookers here, though, aren't as prevelant and out in the open as in Philly I suppose.  I'd probably have to go into the seedy parts of town (like I never have before).

[Miss Philicia]

Philly is so advanced with its male hookers that we separate the racial mix by street grid -- the white boys are on 12th Street, and the black guys and Puerto Ricans are on 13th.  It's all very old school -- these are the boys so desperate that they don't procure their customer base on-line.

[Dwayn20]

It 12:45 am and I checked my bank the Stimulus check is in I was stunned.
Scooter