$1400 fourth stimulus check specifically focused on fixed income beneficiaries of Social Security retirement, disability, SSDI survivors, and SSI monthly benefits. Let’s get into it and discuss where we currently stand and the latest updates.
All right. So this is a topic that I certainly want to bring you the latest updates on because as of the last week or so, a lot of this has changed. And like I said a minute ago, there’s a lot of new proposals that are coming out as of recently. Over the last week or so, we’ve seen multiple different proposals, ideas, different perspectives coming out as far as how they could get direct payments, otherwise known as stimulus checks out to the American people. Just like I presented to you in that last video just a few hours ago, if you didn’t see that topic, I would say finish watching this one and go back and check that one out.
That was yet again, another new idea to send out $300 worth of benefits on a monthly basis for the low income. So check that topic out if you haven’t seen it quite yet. All right. Let’s quickly talk about this $1,400 focused stimulus check for those beneficiaries that I mentioned at the beginning of the video, Social Security retirement, SSDI survivors, and SSI monthly beneficiaries, which, by the way, there’s about 70 million beneficiaries drawing on these benefits. And for the most part, everybody’s benefit is very different, which again, I’ll get to that here in just a minute, a little bit more deeply, but let’s jump through the details on this.
All right. So first off, I want to kind of preface this a little bit here and kind of bring up to speed as far as where this is coming from and where this was originally actually presented from, as far as who actually presented this. So a few months ago, in late 2021, I know we have to scroll back a few months here, but back in September of last year, the Senior Citizens League brought out that petition where they were actually gathering signatures to see if people would support a onetime, one $400 check specifically for all of those fixed income beneficiaries. Remember that? We talked about it at the time when it was released.
And I think a lot of us went over there to the website immediately and signed that petition. I know that I did. And I saw down in the comments section many people here in the community, we’re also doing the same thing to show our support for a one time, one $400 stimulus check at the time, just to give you a quick perspective on where we were sitting at that time, inflation at that time was sitting at about 5.7%. That’s pretty low considering where we are right now. We were only at about 5, 7% inflation. And the whole idea behind this $1400 check that the Senior Citizens League was actually trying to get out of Congress. And again, they’re still working on it. As far as the information that I’m finding basically they were saying at the time is that the Cola rays going into effect in early 2022 was simply not going to be enough. Well, the case has only gotten stronger for that.
Here’s why. Like I said, at the time, when they started bringing out this petition, which they ultimately supplied to Congress, pretty much every member of Congress, they sent that petition along with a letter over to them in early October. Again, at that time, inflation was only about five. 7%. As of just a few days ago, the inflation number came in at 7.9%.
So we’re about 2.2% higher than where inflation was those few months ago when they were sending that petition out. So my point is the situation has got even worse since they actually were gathering signatures on the petition. So this just builds the case even further for why a $1,400 stimulus check needs to be sent out for these fixed income beneficiaries. So anyway, I want to bring you up to speed on that as far as where we currently were or where we were at the time and then where we currently stand as of right now, as it pertains to a focused $1,400 check. All right, so let’s talk about where we currently are as of right now, because this is actually pretty important to look at.
So as I’ve mentioned, this is actually a very important time that we’re at right now, just over the last, what, five days, six days here? I don’t think it’s been a week. It hasn’t even been quite a week yet. We’ve seen three different proposals, three different ideas that have hit the table as far as how they can get direct payments to the American people. For example, the topic that I had out just a few hours ago, $300 payments each and every month for the low income.
There’s another one out there anywhere between $240 and $360 for the low income. And then yet again, the other video that I had out for you yesterday talking about a $1,100 stimulus check, again, focused stimulus check, and then with the option to give the President the opportunity to send out even another one after four months. So these are three separate proposals out there right now that have popped up literally in the last five to six days or so, not even the last week that it’s been since these three new ideas have popped up. So here’s the point behind all of this. The time is more important than ever right now to get out a $1,500 check.
And realistically, at this .1 thousand $400 probably needs to be bumped up to more like $2,000 considering they haven’t done anything yet as far as Congress and the continuation of all of this inflation price increases on literally everything, the one 4000 hundred dollars back in September or October of last year would have been maybe fine. But here we are all these months later and here we are waiting and we haven’t gotten a 14 order check. So the deal is they probably need to bump that up to about $2,000. However, let’s talk about this a little bit more closely to understand what this would actually mean as far as a price tag and how much it would actually cost to do this, because this is important to understand as well, considering what Congress is currently doing right now and some of these other proposals that have just been introduced here over the last couple of days that I just alluded to a minute ago. All right.
So first off, like I said at the beginning of the topic, there’s about 70 million beneficiaries that are drawing on these fixed income benefits, 70 million across the Social Security spectrum, as in retirement SSDI survivors, and then, of course, adding in SSI beneficiaries, about 70 million people. However, let’s just anticipate that every single person would be eligible for one of these $1,400 checks that we’ve been talking about specifically focused on because of the Senior Citizens League calling out to Congress for this check. Let’s run the math on this. A $1,000 check by 70 million people is $98 billion. Okay.
Kind of interesting, but here’s what’s interesting as well. That video that I just had out earlier today, the $300 payment, the idea behind that was to send that out for six months. Well, guess what? Over the course of six months for all these millions of people would be over $100 billion. So my point is we’re already playing around with numbers that are over $100 billion.
To send out a $1,400 check to 70 million people would only be $78 billion or sorry, would only be $98 billion, 98 billion. So just under $100 billion. So you kind of see what I’m saying here. Some of the other proposals that are already floating around out there are already quoting a price tag higher than what we’ve been asking for all these months now. Does it seem like a no-brainer to you?
Because it certainly seems like a no-brainer to me. Right? It seems so incredibly obvious and so easy considering the proposals that are out there floating around. What Congress could do with all of this, not even $100 billion is what it would take to get this money out to the people. Now, here’s one other thing I want to throw out there as well.
Some of these beneficiaries that are receiving the benefits I just laid out may not need a one $400 check. For example, let’s just say the retiree, the Social Security retirement beneficiary who’s maybe getting $3,500 a month, $4,000 a month from Social Security retirement. Is that person doing fine? I don’t know. Of course, I don’t know everybody’s situation.
But I’m saying maybe not all 70 million beneficiaries need a $1,400 check. Maybe out of the 70 million, maybe 50 million actually need it. The people who maybe receive, let’s just say I don’t know, $2,500 and less per month from benefits, which I would say probably encompasses a lot of people, right. Probably the vast majority of beneficiaries. But some of those people that maybe earned a very high income throughout the course of their career and maybe they are getting $4,000 a month from Social Security, maybe they’re sitting high and dry.
Maybe they’re doing totally fine and they wouldn’t need a check. My point is if they actually ran some math on this and actually ran the numbers behind all this and figured out, okay, out of all the 70 million beneficiaries who would actually need a check, well, we could probably all anticipate and probably already know it’s. The lower-income beneficiaries. Right? Like I said, maybe the people are receiving 2500 or less, maybe the people receiving 3000 or less per month would be eligible for this.
So maybe that would shave the window down as far as who would actually be getting these checks.
Therefore, maybe let’s just say they allocate $100 billion. Maybe they could say, okay, well, sorry, 50 million people would be in need of these checks and we have $100 billion here to allocate I don’t know. The math tells me that would simply bump it up to a $2,000 check kind of get what I’m saying here. So the point is there’s a lot going on right now, and the case is getting stronger and stronger right now, considering what has been released here over the last week or so, all of these proposals, the three proposals that I just introduced and that I just laid out here a couple of minutes ago, those have been introduced here in the last week or so. There’s been a lot more talk about direct payments to the American people.
Also, this is not the first time that Congress would be sending out a direct payment for the fixed income beneficiaries. In fact, they did it back in 2009. In May of 2009, they did the exact same thing. They sent out a direct payment specifically focused on the fixed income beneficiaries. So they know how to do it.
It’d be super easy for them to do. And based on everything that we’re seeing here as of recently, the case is getting stronger and stronger for why Congress needs to send this out again, citing inflation and rapidly rising prices on literally everything. And then also because of these proposals, I feel like this is actually getting kind of good here because Congress once again is playing around with the ideas of direct checks. It’s been a very long time since that’s been happening. So considering everything that’s going on recently and everything that I’m seeing out there right now, I feel like the case is getting stronger and stronger almost on a daily basis here with everything going on and what Congress is actually discussing.
So we will have to see what actually happens here going forward. But we do know that they are also working on the next stimulus package, otherwise known as the reconciliation bill, but they are working on this and they can add a check into it. So I feel like if we have to actually look at this and kind of assess what’s actually going on here, I feel like the chips are starting to be stacked in our favor. As far as all of this going on now, I feel like it’s been kind of a pretty good case that we’ve been building here over the last few months. But as of the last week or so, since the last inflation data came out on Thursday of last week, the case has gotten significantly stronger.
So kind of interesting how Congress came out and talked about direct payments for the American people last Thursday, exactly the same day that the inflation data came out. So kind of interesting stuff and good stuff going on out there. Anyway, I wanted to break this all down for you, let you know where we currently stand with this, and based on what I’m seeing out there, It kind of feels like the case is kind of being built right. The case is getting stronger and stronger for why a check needs to be distributed. Anyway, I’m watching everything closely as I do get more details.
Thanks again for reading. Bye