The government will reportedly issue checks to millions of retirees as part of a stimulus package.
Wired PR News – Millions of retirees will reportedly soon receive federal payments in accordance with the economic stimulus plan passed in February. As reported by the Associated Press (AP), the government will issue $250 checks to over 50 million retirees in May.
As noted by the AP, the sums, expected to help bolster the economy, will be given to those who receive such benefits as Social Security, railroad retirement, and veteran’s disability.
Mark Zandi, an economist with Moody’s Economy.com, is quoted in the report as stating of how the stimulus measure may impact the economy, “We are at the moment of truth for the tax cuts and probably the stimulus more broadly… If we don’t see an improvement in retailing and if the job cutting doesn’t abate in response this summer and fall … it either hasn’t worked or it wasn’t enough.”
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