AARP Applauds Obama Proposal to Extend Economic Relief to Seniors

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Urges Congress to Act Quickly in Light of Anticipated No COLA for 2010

Washington, DC – AARP CEO A. Barry Rand offered the following statement in reaction to the White House’s announcement this afternoon, calling on Congress to extend previous $250 economic relief provided for older Americans, veterans and persons with disabilities for 2010.

“AARP applauds the President’s proposal to extend needed relief for 57 million Americans. The timing could not be better — we expect the Social Security Administration to announce tomorrow that Americans who rely on Social Security will not receive a cost of living adjustment (COLA) in 2010. For nearly 35 years, millions of Americans have counted on an annual increase in their monthly Social Security checks to make ends meet. Sadly, their benefits will be frozen next year, leaving millions struggling to meet their basic needs.

“The current recession has become a perfect storm for millions of older Americans, who find themselves struggling with skyrocketing health care costs, shattered nest eggs, and now stagnant Social Security benefits. We are talking about people who have done the right things by working and saving, only to find themselves paying more out of pocket for medical care, having their savings and home values plummet, and even facing longer periods of unemployment for those who try to get back on the job. In short, older Americans, veterans and persons with disabilities are facing the worst economy since the Depression, with little opportunity for relief.

“AARP calls on Congress to take up the President’s call to action, and provide $250 in relief to millions of Americans who count on Social Security to pay their bills. AARP will continue to work with members of Congress from both sides of the aisle to bring needed relief to millions of Americans.”

Source: AARP