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Saturday, September 24, 2022

Stimulus Check For The Seniors, An Additional $1,400 Will Assist The Social Security Recipients

The TSCL has accumulated a million signatures to gather support for a new $1,400 stimulus check which will help them cope up with the unexpected inflation.

Their petition stated that they want the Social Security recipients to receive a $1,400.00 emergency stimulus check to cope during this unprecedented inflationary year. These benefits are one of the few sources of income that are adjusted for inflation.

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The COLA increments are not enough for the seniors, who are living on a fixed income, with the 5% inflation rush experienced over the last 13 months.

The petition also stated that they want the benefits increased by just 1.3%, which would raise the average benefit by only about $20 a month. 

The New Stimulus Check Would Go A Long Way To Help The Senior Citizens

Around 86% of the Social Security recipients, who were surveyed, say that their expenses increased by much more than that amount.

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A $1,400 stimulus check could help senior citizens afford groceries on a tight fixed income. Roughly 25% of low-income seniors reported food insecurity, according to research.

The recipients are expected to get an increase of 6% in the COLA adjustments in 2022, which would be one of the largest on record. The rising inflation and Medicare costs are thought to eat away most of this increment.

A fourth stimulus check could help struggling seniors recover from a year of surging prices and supply chain blockages that are still hurting the prospect of recovery for basic grocery items.

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