2010 Stimulus Check – Will There Be Another Stimulus Check Coming Next Year?

By Mike

stimulus check

As I previously mentioned, most of the growth present in the US economy is coming from the money injected into our capitalist system by the Government. The housing market hasn’t seemed to pick up that much and the real unemployment rate is closer to 17% than 10% (unemployment rate doesn’t count people that are on welfare or those who gave up and quit looking for a job).

This is why so many people are asking if we will get another stimulus check in 2010?

So here’s what we know so far:

There will be a $250 stimulus check for Social Security (SS)

This new stimulus check is a one shot deal and will happen during the first quarter of 2010. Besides this measure, no raises are forecast for the Social Security amount allowed.

The stimulus check will be received the very same way you receive Social Security.

This measure will cost the US Government about $13 billion!

Unfortunately, no other stimulus measures (cash for clunkers for example) have been announced yet.

Why the government is doing this?

I would say that the main reason why the government is sending another stimulus check is to give a (very small) break to many US families. By doing it through a single check, they avoid costly measures that would recur in time. However, this is far from being enough.

According to some economists, a total of $125 billion would be required to be distributed among the US population to make sure that we support the economy during enough time to avoid slipping back into a recession again.

These additional stimulus checks would act as a spark plug to fire the engine of our economy. It seems that companies are still not able to hire more people and they are generating profits by cutting their expenses. This is obviously not the right way to assure economic prosperity!

What to do with your stimulus check?

While the US economy is in deep need of people spending money especially in its stores (this is why we have Black Friday, isn’t?), I think the best use of this stimulus check would be to pay off debt or put it aside in case you need it.

Our economy doesn’t need consumers re-mortgaging their properties to overspend on what they can’t afford. It will hurt for a while, but we are better off with a population that is able to save again and doesn’t crumble by the weight of their debts.

Do you have any other questions about the 2010 stimulus check?

image source: josé manuel


47 Responses (including trackbacks) to “2010 Stimulus Check – Will There Be Another Stimulus Check Coming Next Year?”

  1. Cathy Charette Says:

    I think President Obama should put a extra $100.00 in social security,veterans and railroad retriees checks a month instead of the one time payment of $250.00,because I think it would turn the economy around faster than the one time payment of $250.00.Also the people that work with taxes.Thats what I would do.

  2. Adelina Stmarie Says:

    Fascinating stuff, did you know though that the average American has somewhere between 5 and 10 credit cards. There are persons who have up to 50 different credit card accounts open, though. That doesn

  3. Misty Says:

    “This new stimulus check is a one shot deal and will happen during the first quarter of 2010.”

    I don’t know where you’re getting your information from, but it’s not entirely accurate. There is a proposal for a stimulus check in 2010, but Congress hgasn’t even voted on it yet. I suggest you get the facts bfore posting information like this.

  4. DisabledVet Says:

    Because there will be no COLA in 2010, and quite possibly 2011, those on Social Security will suffer as a result. I don’t know how they adjusted it for 2010, but I know cost of food has gone up, as has my rent, and I have less to work with each month. The disabled need the stimulus payment to make up for this loss of a COLA for the next 2 years. And by adding $100.00 to each persons SS check, as mentioned here by a poster, that would be disaterous. Rent in section 8 housing and medical care costs are based on the SS payment we receive each month. Raise the check too much, and everything else goes up for us and could make us ineligible for some services. It would not help at all, but rather, hurt us disabled and elderly folks.

  5. Brenda Says:

    I agree with disabledvet. Every time you get an increase of any small amount they increase any payment of rent as well so why bother with the increase. I am struggling enough being disabled just trying to make ends meet. I did not ask to be disabled and I most certainly do not have 5 to 10 credit cards as a previous poster suggested of most Americans. I am sick of people elsewhere downing this suggested one-time payment of $250.00 to elderly, veterens, disabled, etc. We are people too. Others speak of us as if we don’t count in the economy because we don’t hold jobs. Well I did hold a few jobs at a time to support my kids for many years until I became disabled. Now I am still trying to support a 154 year old! I am living off the money I put into the system to begin with. Any little payments from the “stimulus” will help me and my family just as much as anyone else. Thank you very much for listening.

  6. Bob Says:

    Itomthink an extra $100 or $200 a month added to our checks each month would be the way to go then folks could know what they will have and what they can buy it will help the economy after all the money goes back into circulation the government benefits from it.

  7. THELMA Says:

    WILL THERE BE A STIMULIUS PACKAGE FOR 2010

  8. THELMA Says:

    WILL PEOPLE DAT RECEIVE SSI WILL THERE BE A NOTICE

  9. Roger Says:

    No COLA for 2-3 years.. That is bull.. My utility bills are raising. My rent is based on my income. Even though my income did not raise my rent went up $20 a month. I used 300 less kilowat hours of electricity in dec than I did last dec.. My power bill is $15 more. So dont tell me the cost of living isnt going up

  10. jj Says:

    There has not been a decision on a stimulus check for SSI yet,and considering its already January and nothing has been said ,don’t get too excited.. I am disabled and like someone already posted ,I dont want to be disabled,im 33 and just for ppl who say I dont deserve to have any help. I was 12 yrs old when I started putting into the whole system,and it was full time work,after 18 I was working 4 jobs 2 full time and two Part time,I am also female and worked like a dog… I do not have credit cards barely can make ends meet now. All my bills increased this yr and will next year,I haven’t even been able to afford to pay for premiums that is offered with disability,so I can’t get meds or even see a doctor,not just because we didnt get a increase or a stimulus,just because not enough in the first place…Would I like to have seen a COLA? Yes but at this point to me IM grateful for what I am getting now,and doesnt matter if more money is given to any of us since it will never be enough to meet needs or satisfy what is wanted…my opinion

  11. Tony Says:

    Don’t think there will be a stimulus check. Obama is a Capitalist and is there to serve the investor classes and moneyed interests. The fact that there will be no SS benefit cost of living increase until 2011 is good indication that there will be no stimulus check.

    911 was an inside job. Join the socialist party in your city!

  12. Dave Says:

    With how much money this clown has spent he would have been better off just giving each tax payer 1 million dollars! It would have fixed the mortgage and banking problem cause people would pay their bills, also would have helped GM/Chrysler and Ford because people would have the money to buy new cars. With money in your pocket you would be buying goods and service’s which would have helped the ecconomy. Best part, there are less then 300 million tax payers, the “so called” 1st stimulas package was like 780 BILLION dollars! Call me crazy, but I think we could have saved a little money. lol

  13. brent Says:

    i read a bumper that srad dont steal from the gov becuse the gov hats compiters

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  15. Heather Says:

    Senate rejects $250 checks for elderly

    Thu Mar 4, 9:47 am ET
    WASHINGTON (Reuters) – A measure to give some 57 million elderly people, veterans and persons with disabilities a $250 check was rejected by the Senate on Wednesday, a setback for the powerful seniors’ lobby.

    President Barack Obama has called for Congress to approve the payments to make up for their benefits not increasing this year, but the Senate defeated it 50 to 47.

    The payments would have added $13 billion to a $108 billion job-creation package pending in the Senate.

    Congress approved payments last year as part of the $862 billion stimulus package.

    Social Security payments for the elderly and disabled will stay flat this year for the first time since 1975 because they are tied to consumer prices, which decreased amid the worst economic recession in 70 years.

    That follows a year in which payments rose by 5.8 percent, largely due to a spike in gasoline prices.

    “It is wrong to turn our backs on seniors in this moment of economic difficulty,” said Independent Senator Bernie Sanders, who sponsored the amendment.

    But Republican Senator Judd Gregg pointed out that the bill would defeat the purpose of indexing Social Security payments to inflation.

    “The law says it shouldn’t be given,” Gregg said.

    At least 10 Democrats agreed with Gregg and joined 40 Republicans to defeat the proposal.

  16. Dave H Says:

    Pretty sad that the people that could genuinely use this rebate doesnt get it this year(so far), instead the congressmen/senators can vote for raises for themselves and leave the seniors/disabled out to dry..maybe the people that voted against the rebate should’nt be elected/re- elected next time…maybe then they will think twice about screwing ppl over.

    just my.02.

    dwh

  17. maryd Says:

    Yes Congress the important thing is to help the RICH!!! That way
    big business can help big business. Lots of rich buying super expensive cars, getting plastic surgery and schmoozing with each other.
    Of course sooner or later they will pay too, when all the little guys
    can’t hold them up anymore. After all we are the foundation.

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  19. debbie Says:

    Listen people Its Obama who wants us to have the stimulas checks its the Senate that did not pass it he only was trying to make up for them not giving the cost of living adjustment ssi and VAs it was a law made in 1985 that made it this way

  20. shaggy Says:

    who ever thinks obama is the worst president in history is obviously lost in thier own little world. obama is trying to clean up the mess we got into from putting a bush and dick in office for 8 years. come on people wake up, bush and cheney put us in one of the worst deficets this nation has seen since the great depression, and it will probably take decades to fix what that idiot bush messed up! if it wasnt for bush gas wouldnt be almost 3 dollars a gallon or more, taxes wouldnt have been raised this high, social security wouldnt be so hard to come which right now its close to non-existant. instead of spending his time going after bin laden after the 9/11 tragedy he went after hussien instead and bin laden is still out there, he went after hussien because of his fathers vendetta. hell bush was even warned that 9/11 was going to happen and still did nothing to stop it. if you ask me bush should have been impeached after his first 2 years! bush cut health care, raised taxes, made it harder to get social security, put us in debt to several other countries, made severe budget cuts which are affecting our work places, our schools, our insurance companies, etc., bush has done nothing but screw this country up and i for one am glad hes out of office and will never disgrace the distinguished post of president of the united states again, and its a miracle his brother jeb didnt run for president because if he got elected we defininely would be a 3rd world country, g.w. bush pretty much put us at 2nd and 3rd world status from his two terms. i say get the ball rolling and keep the idiot republicans out of office and keep the democrats in. why put republicans in office when all they care about the rich and wealthy and themselves? atleast democrats try to help all! i say raise taxes on the wealthy, lower taxes for the poor, reform health care to suit all, fix social security, legalize marijuana since it is this countries number one cash crop ( do your research and you will find im right), lower prices, work on lowering the cost of gas, and quit bitching about obama, like i said he is doing his job and trying fix all the problems bush left for him to clean up! in my opinion as well as just about everyone else ive debated this with, obama is doing a bang up job trying to make things right as well as the rest of the democratic party, let them do thier job and shave that bush and castrate that dick (cheney to all those who dont know who im talking about ) and let the democrats fix what the republicans screwed up. the job markets even gotten better since obama has been in office so there really shouldnt be any complaints. everyone liked clinton until he screwed around with that lewensky tramp and now people say he was a bad president. what right do we have complaining about his personal life? so he got a b/j and was probably boning his intern, so what? would you screw hilary? i doubt it. what he did didnt affect this country just his marriage. for those bible thumpers out there! doesnt it say in the bible : he with out sin shall cast the first stone? how many people are truely with out sin? none, everyone sins somehow, someway, in some shape or form! i think we should leave the politicians who actually tried to right the wrongs of thier predecessors alone, and focus on ones like bush(‘s) who screwed everything up in the first place and caused us to get in this predicament. im going to close in saying that everyone has thier problems to fix wether or not they are cleaning up after someone else or themselves, obama is doing a bang up job cleaning up after bush and im sure in time we wont be dissapointed in him but glad we put him in office. this is shaggy piecin’ out!

  21. paula Says:

    I was wondering if we are going to get a stimules check or if they where going too cut our ssi checks, i hear they are going to cut ssi, and if so i really dont think that is right cause we are just verly making as it is now. this goverment has every thing messed up.

  22. Bitszy Says:

    It is sad that we disabled americans who are barely making it in the first place, we then have a government that has the best of health care and are able to make ends meet, tell us no, you won’t get a cost of living increase because the cost of living hasn’t increased… my bills increase every month and year or yeah and by the way you don’t get a stimulus check either! What planet are the government employees from?

  23. vicki Says:

    the goverment people try to deside what is best for lower and working class people,they aren’t limited to counting pennies just to buy gas for the car to get to work, or to put food on the table,they just don’t know what we have to do to make things work and get by. to say that retired and disables people shouldn’t get an increase for 2010,they haven’t lived in our shoes,how can they feel justified by their actions. it seems that the gov doesn’t care about anyone that doesn’t reside within the goverment body and make a 3figure pay check. they say that everyone should be treated equal,how equal is this goverment of ours being?????

  24. randy Says:

    im still hearing yes and no on the 250.00 stimulus payment for ppl on ssi. we know of a very few who received it but then it seems to have stopped. was this killed in jobs bill?
    plz any real info on this would be appreciated as there are many conflicting stories.
    ty

  25. Winston Spinuzzi Says:

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  26. Oh Heavens Says:

    It is my understanding that the stimulus is not yet completely dead yet. Congress did vote it out 50-47, but, I was told that there are representatives who are trying to get it piggy-backed onto another bill that needs to get voted on. Word is out there that some people have received their check already, this is not true. If anyone got anything, it must have been thru their states.

  27. dawn Says:

    Did anyone get there $250,00 on March 31 2010? I saw this on one web site that were would get it this day. Or is this another lie????

  28. Idaho Says:

    I think the blogger here needs to do a little research. I’d like to see some links to FACTUAL data on this. SocialSecurity.gov only has information about one PROPOSED and DEFEATED bill for these stimulus payments, so far, the word is there will NOT be a payment.

    Come on, blogger, you’re filling people with hope here, but from all signs, their hopes are gonna be dashed. Update this blog with accurate information, please. If you’d do so, you’d be doing EVERYONE who comes here a service, and make a good start in untangling the non-facts being flung around on a dozen other sites/blogs.

    I truly suggest you go fact hunting at SocialSecurity.gov for yourself if you doubt any of what I’ve said.

  29. barbara Says:

    will they be another 250.00 mailed out any time this year

  30. barbara Says:

    i think they should be another check issued for those people who are getting ssi, veterans, and etc…

  31. Ej Says:

    How do you qaulify for the stimulus check?

  32. we dont need this Says:

    I have enough stress in my life I rilly have problm with eny that mess with my monny. What did GOD do to the husbed and wife that with held monny from him! He lade wast to em

  33. Mark Says:

    It seams that business are to big to fail, so we prop them up. By that thinking it seams that those of us on SS is to small to worry with. $250 dose not sound like much but when you your share of copay has risen, your medications have risen every penny counts. lets ask our representatives to give up some of their pay to help out if thy are so concerned about the budget. Pres. Obama went from making just over $1 million a year to $5.5 million in 2009. We are at the bottom of the totem pole thy don’t even began to care about us little people.

  34. joyce Says:

    I WANT TO KNOW IF EVERY ONE IS GOING TO GET THIS SIMULAS CHECK I AM ON UNEMPLOYMENT ARE WE GETTING THIS TOO.

  35. sandra dunigan Says:

    to president obama i am on social security with seasonable partime work ihave 4 credit cards 4 loans plus a washer payment each month i verly have any money lift till i get my bills payed off itray to help a friend out that social security payed here back in 1994 but they didnt pay her right she has a lawyer working to get her check raised right and back payed from 1994 till now social security doesnt want to pay her she has worked all of her life till she got sick and cant work anymore she is in the hospital for the fifth time this year she has aplayed for food stamps the food stamp office didnt pay her right she replayed back in december 2009 she never herd in sted they cut her off her stamps she cant even buy a loaf of bread she is waiting to her from her food stamps now they told her she would her something in a month the 250.00 stemious check sure would be a help my friend has more countible bills then she has money her son pays too of the bills her nurse helps her pay for her medications each month something needs to be done though the white house to clean social security and make them pay these sick folks seniors and pay them right where they want half to get lawyers and clean up the food stamp offices and stop all of this discremation it goes by your race and coler we are going to see the same got why discreminate gobless you obama your family and all of your staff the end

  36. betty Says:

    i havent the received the $250.00 for 2010 when will i get it

  37. Unique Says:

    I have an elderly friend who just received a 250.00 check last week from the Dept of Treasury. I’d like to know if this the stimulus check or not. He said that he has no idea why he received this check.

  38. MICHAEL Says:

    I’M DISABLE I WOULD LIKE TO KNOW WILL I GET THE $250.00 STIMULUS FOR 2010?

  39. sandra cameron Says:

    DO I GET A STIMULUS CHECK FOR $250.00 I’M ON S.S. DISABLEY

  40. MARSHA Says:

    OK PEOPLE ITS LIKE THIS OUR CHECKS DIDNT GO UP AND THE ECONOMY HAS WENT UP NOTHINGS CHANGED RENTS EITHER THE SAME OR WENT UP GAS IS STILL THE SAME GOING UP AS WE SPEEK OUR UTILITYS DIDNT GO DOWN HECK THE ELECTRICAL COMPANY IS SO HIGH NOW I BARELY CAN RUN MY AIR OR ITLL BE 300 A MONTH THATS HALF MY RENT AND AS FOR THE STIMULAS CHECK THERE WILL NOT BE ONE THIS YEAR THEY VOTED AGAINST IT AND THATS IT IT HASNT BEEN BROUGHT BACK UP SO NOOOOOOOOOOO STIMULAS CHECK FOR 2010 YOU WONT RECIEVE ONE OUR CHECKS ARE NOT GONNA BE RAISED AND WERE ALL GONNA CONTINUE STRUGGLING AND ALMOST HOMELESS CAUSE WECANT MAKE IT ON NO $674.00 A MONTH THERES NO WAY IM NOT IN HOUSING I PAY REGULAR RENT MY RENT IS 600 A MONTH I STILL HAVE MY LIGHTS GAS,TRASH PICK UP,WATER,CELL PHONE,GAS FOR MY CAR CAR INSURANCEAND PERSONAL THINGS LIKE CLOTHS SOAPS MEDICINE THATS 50 CENTS FOR EACH ITEM SO IF U SAY THE OBAMA IS TRYING TO HELP THINK AGAIN I GOT A STIMULAS CHECK LAST YEAR 250 GUESS WHAT WHEN ME AND MY HUSBAND FILLED OUR TAXES I HAD TO PAY THE 250 BACK HOW IS THAT HELPING THEY GIVE MONEY THEN I HAVE TO TURN AROUND AND PAY BACK OBAMA-(ONE BIG ASS MISTAKE AMERICA)IF HE WAS HELPING WE STILL WOULDNT BE STRUGGLING WE NEED OUR CHECKS RAISED JUST TO LIVE IF NOT THERE WILL BE MORE ELDER PEOPLE ON THE STREETS OR DYING CAUSE THEY DONT HAVE WHAT THEY NEED COME ON OBAMA GET IT TOGETHER JUST RESIGN OR STEP DOWN ALREADY LET SOMEONE STEP UP THAT KNOWS WHAT THERE DOING

  41. sandra Says:

    barocka obama i am wrighting to you about these loan companys credit cards you and your senited house need to crack down on these loan companys charging a payment and a half in interest on all loans if you get lawed off your job or lose your income and cant make your payments you try to reason with them they are not very understandingloans want cleraderal if you cant make your payment they will take what you have you and your seniters need to fix it where anyone can get a bill consalidation loan regardless of passed credit histery eheather good or bad so the poor and middle class can consalatedthere debts into one at a low payment each month it sure would help strougling americans get out a whole lot the republications and demicrats need to go ahead and pass these bills where you can signe them to help these struggling americans and get the ecominey back on track and americans back to work and the price of things in the stores can go down where more americans can afford to shop and spend god bless you your family and your seniters

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  44. venecia Says:

    that’s nothing when they increased foodstamps, By $21.00 a person they took mine back. when the president approved them on April 4th,2009

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  46. BobM Says:

    2010, 2011, No COLA No Promised Stimulas Check
    But Wait till You read This:

    This is rape plain and simple of our seniors. Two years in a row we go without a COLA and Obama following it with sorry but I will ask for a stimulus for you to shut us up knowing that there will never be one. People are still hoping that have no idea it has already been shot down for 2011 at least they did not wait until May like last year to tell us.

    Now here is something no one is talking about and I urge everyone to start posting this everywhere so it gets attention and demand a answer.

    Where is the money from all the Illegal’s in the U.S. that is being taken out of thier checks using someone else’s SS number???
    There are billions of dollars (EVERY YEAR!!!) in the U.S. of unclaimed taxes, and 86 percent of that money is because it cannot be claimed by those using bogus documentation. And the goverment knows this we are not living in the dark ages, a red flag comes up especially since 911 everytime a duplicate SS number is used. But they are keeping these Billions and not telling us. Federal , State, SS, SDI, Local Taxes, FDCI, where is this money?

    But we cannot get a few cents on a dollar which is usually less than 4 cents a year raise!! Congress got a $3,000 raise but tells us we do not get one?

    Where is the money President Obama that you know is there from the Illegals you allow to fraud us and use our Social Security Numbers, which by the way we never get credit for the hours so that shows right there you knew all the time it was not us???

    Get this out and ask why we are being targeted as seniors. Gas here in Northern California is $4.34 and rising daily, a loaf of breat $5.00, ,milk $4.99 a gallon, and the homeless over 12,000 on the streets in the freezing rain. TWELVE THOUSAND!! a quarter of them seniors. Are you next???

  47. kelly Says:

    I’ve read no increase in cola so there will be a one time 250.00 payment . but when ? its may 19 2011 , I’ve called and looked all over the internet but no one knows anything . I get 674 my rent is 650 amonth could sure use that little bit of money since there is no increase in SSI

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