Since the start of pandemic, the federal government has sent three rounds of stimulus checks.
Seniors are now asking for a stimulus because inflation is so high.
The Senior Citizens League calling for a stimulus
The Senior Citizens League (TSCL) has brought attention to the fact that inflation has dramatically decreased the buying power of everyone, but particularly Social Security retirement beneficiaries. Social Security recipients have had their buying power reduced by 40% since 2000.
TSCL Chairman Rick Delaney sent a letter to Congress last year outlining the hardships that citizens are facing and requested additional aid for seniors.
Thousands of seniors have exhausted their retirement savings already and now many can barely afford their prescriptions. TSCL has also started a petition that calls on Congress to send $1,400 stimulus checks to senior citizens.
A report from the National Council on Aging says that more than 15 million seniors are considered “economically insecure.”
Despite efforts of TSCL, lawmakers haven’t made any proposals acting on their requests.
However, this group does benefit from federal schemes. For example, the COLA adjustment was 5.9% for 2022– though many claim that it wasn’t enough.