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Tuesday, January 25, 2022

Stimulus Check Update: Who Will Be Receiving $1,400?

Senior citizens could be one of the sectors of the population who would be receiving a stimulus check through pressure groups. A letter that was sent by the Senior Citizens League Chairman Rick Delaney to the leaders of Congress does serve to illustrate the situation that was faced by most of the seniors.

The letter states that they have heard from close to thousands of seniors who have already gone ahead and exhausted their savings for retirement due to the rising inflation and have also started eating just a single meal throughout the day. They have also been reported to be cutting their prescription pills in half since they couldn’t afford their drugs. 

Stimulus Check For Senior Citizens

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The Senior Citizens League has proposed another stimulus check payment of $1,400 for most of the senior citizens. While the checks of Social Security will be going up by 5.9% in 2022, which would represent the largest cost-of-living adjustment in the next 39 years, as inflation would threaten to encompass the entire bulk of the price increase.

Despite most of the political analysts pointing their fingers at each other, one wouldn’t have to look any further than the pandemic to check why the inflation is increasing, and how it is being cut into the purchasing power of those who have been able to afford a decrease in the absence of a stimulus check payment. According to the Chief Investment Officer at Ancora in Cleveland, John P. Micklistch, there is no current evidence that the country would be facing any inflation without the shock to the supply.

In order to facilitate a stimulus check, the TSCL has not only been calling on the White House for help, they have also been asking the public to sign the public petition on change.org.

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