In 2010, President Obama will be paying out a $250 stimulus check to all eligible recipients of SSI which is stands for “Supplemental Security Income”. This $250 payment is part of his ongoing efforts to stimulate the poor economy out of recession.
Who is eligible for the $250 stimulus?
Anyone who is currently receiving SSI payments will be eligible for the $250 check. There are also some other groups who will receive this check including Social Security recipients and disabled veterans.
[update - find out about the new $250 stimulus check in 2010 for Social Security recipients]
When will the $250 checks be paid out?
It is not known at this time when the payments will be made but it is likely that they will be paid in the first quarter of 2010 (ie before the end of March).
Is there any income limit for the $250 payment?
No, it doesn’t matter if you have other income or if you are working or not. It doesn’t matter how much income you make – you will still get the check.
How much will this cost the government?
According to White house officials, the cost of all the stimulus checks will be $13 billion. A large amount of money but don’t forget that the stimulus package for 2009 was almost $800 billion.
Why is the government doing this?
The government is giving out this money in order to try to stimulate the economy. Because of problems in the financial markets and housing markets over the last 2 years, there has been a slowdown in economic activity in America and many job losses. By putting extra money into the economy it is hoped that the decline of the economy can be slowed down or even reversed.
Will it be a check or electronic payment?
The $250 should be given to you in the same format you currently receive your regular Social Security payment. If you get your SS payment by check then the $250 will also be by check. If you get your SS payment deposited in to your bank account then the $250 will also be deposited into your bank account.
{ 6 comments… read them below or add one }
I have been searching the internet and the library of congress and I haven’t view any positive information that a second stimulus has been approve. My own representative want answer my concern/question.
I just would like to know in the lieu of no COLA, is there going to be a stimulus for SSA, SSI, and Veteran? What is the possible date if the stimulus is grant ?
IMO I would love the raise than the $250 1 time check. Least take the check divide it by 12 and give it to us that way because that $250 will be gone faster least with it coming in more slowly we can budget it in for the yr .
i wish it could be the way it alway’s has been. I don’t understand why we are broke, where is the money really going?
I dont understand, they held the first check because i owe IRS, so you see I am beyond poor. Them I get a check for 250.00 which i now read in the Berkshire Eagle , they may take it back. I am 65 and in poor health, live on 720.00 monthly. What is your defininition of poor? i dont buy birthday or Christmas presents. The rich get richer, they got their bonus again, and the President said he was going to hold them accountable. Perhaps it is time for a third party. I didnt get 400.00 or 800.00 and I know their are millions in my shoes. Go after the ones that were bailed out not the ones that weren’t
I didn’t get the first check, though I am on SSI and SSD, does this mean I wont get the second? I have to get by with $600 a month, I can barely afford food, rent and utilities now, how am I going to cover everything once all my bills raise in the new year?
We are lucky to recieve any money at all, So why gripe?