US stimulus checks: 10 October summary news
US stimulus checks summary: Sunday 10 October
Headlines
- Medicareopen enrollment is just days away.
-Calls for a fourth stimulus check for those on Social Security grow.
- Social Security recipients begin to the worry that theupcoming fight over the debt ceilingcould threaten their payments.
- Some US states are opting to send residents their own stimulus payment.
- Could a fourth federal stimulus check still happen this year?
- $480bn temporary debt increase approved by US Senate.
- Only 194,000 new jobs created in the US September, despite end of extra unemployment benefits.
Useful Information/Links
Fourth federal stimulus check
- How will September's unemployment rate affect the chances of a fourth stimulus check?
Social Security and Medicare
- How does the debt ceiling deal affect Social Security payments?
- How to seek Social Security benefitsif you aren't a US citizen.
- At what age is Social Security no longer taxed in the US?
- What are the numbers on the back of my Social Security card?
- What are the 2022 Medicare premiums?
Unemployment
- What is frictional unemployment?
California Golden State Stimulus checks
-How many more Golden State Stimulus payments are still to be sent?
-When will the payments arrive and who qualifies?
Have a look at some of our related news articles:
What are the numbers on the back of my Social Security card?
Just like with the symbols on a dollar bill, the internet is rife with theories about what the numbers on a Social Security card signify. Some think they are for nefarious purposes, while others could get you into legal trouble...
Fourth stimulus check: which states are making cash payments?
A few states, including Texas and California, have decided to send residents a stimulus check, as chances of a fourth federal payment dwindle.
Americans like President Biden's spending plan, but don't know if it will help them
A new CBS poll shows that amjority of Americans, 54 percent are in favor of the Build Back Better plan President Biden is trying to get through Congress. Unfortunately for the administration and Democrats in Congress negotiating the finer details the American public doesn't seem to know all that is in the sweeping proposals.
Furthermore only 41 percent think the proposals will help the ecnomy and fewer think it will help them personally.
Let's be clear. We don't want to lower the number. But if we have to lower the number to get everybody on board, then let's just cut the number of years that something is funded, but make sure that we are funding things that get immediate benefits to people.
When does medicare open enrollment begin? What is the deadline and how do I enroll?
Medicare enrollment begins on 15 October and those interested in signing up are given until 7 December.
During this time, beneficiaries will have the chance to select a standard Medicare Plan which includes Parts A and B, aMedicare Advantage Plan, or a prescription drug plan (Part D).
Read our full coverage for more on what changes have been announced for 2022.
Treasury Secretary Janet Yellen is "confident" Congress will raise the debt ceiling before December.
Earlier this month, Congress passed a temporary increase of the debt ceiling through December, meaning that the fight has been kicked down the road. Republican leaders have said their party will not vote for an additional increase, but Sec. Yellen seems to think otherwise.
$1400 stimulus check to social security recipients: the proposal and who supports it
Could a $1,4000 fourth stimulus check be sent to those on social security?
On 4 October, the Senior Citizens League, a non-profit organization, wrote a letter to Congress urging members to send a $1,400 stimulus check to those receiving Social Security benefits. The contents of the letter are extremely concerning, with the writers explaining in detail the lengths seniors have had to go to to make ends meet.
It begins by highlighting that the organization has heard from thousands of seniors “who have exhausted their retirement savings” and started “eating just one meal a day” or “ cutting their pills in half because they can’t afford their prescription drugs.”
Read our full coverage for more on the letter as well as the measures included in the $3.5 trillion reconciliation bill that could help seniors.
At what age is Social Security no longer taxed in the US?
At what age is Social Security no longer taxed in the US?
The vast majority of Americans will be required to pay tax on at least part of their Social Security payments, sometimes as much as 85% of the benefits if their total income exceeds certain thresholds.
Once you are at full retirement age (between 65 and 67 years old, depending on your year of birth) you will no longer be taxed on Social Security payments.
Read more in our full coverage.
What is the true unemployment rate in the US?
The US unemployment rate fell to 4.8% in September. This figure represents the lowest unemployment rate since the beginning of the pandemic. However, The Guardian's Rashida Kamal argues that there is a lot behind this number that is not explained or captured in the numerical analysis.
Kamal argues that this figure is artificially low as it does not capture the large group of people who have stopped looking for a job. In the US the only people captured in the unemployment rate are people over sixteen years of age who are actively looking for their next gig. When accounting for the peoeple that are no longer looking for a job, Kamal argues that the real statistic could be five times as high.
Read more of her analysis here.
Are recipients of the Child Tax Credit less likely to forgo work?
The Social Policy and Humanity Forward published "found 94% of Child Tax Credit recipients plan to continue the same amount of paid work or more." Many in the Republican party have argued that the new credit's structure should not be extended as it discourages people from entering the labor market. This study conflicts with this view.
Biden says 600k jobs created monthly since he took office
President Joe Biden has shared an upbeat message on the jobs front through his twitter deed this Sunday morning, claiming that 600,000 jobs have been created monthly since he took office.
"Jobs are up, wages are up, and unemployment is down. This progress is attributed to the hard work and resilience of the American people, who are battling through this pandemic," said Biden.
Yellen; "Absolutely imperative to raise debt ceiling"
Treasury secretary Janet Yellen has stated that "it is absolutely imperative that we raise the debt ceiling", which she said was necessary "not to fund any news spending programs" but "to pay the bills that result from Congress's past decisions". See video below for more...
The $3.5 trillion infrastructure bill aka as the #buildbackbetter bill includes subsidies for child care expenses and paying workers more because yes, in most parts of this country, child care costs twice as much as the mortgage."
What are the numbers on the back of my Social Security card?
The internet is alive with theories about Social Security Numbers and their meaning or use, despite the government’s attempts to debunk the myths.
Social Security: can you request payment if you are not a US citizen?
Most non-citizens who work in the United States will be required to pay Social Security taxes, giving them the right to claim benefits when they retire.
What are the 2022 Medicare premiums?
The Social Security Administration has yet to release all the details over the changes to Medicare premiums that will be seen next year. What is known so far?
How does the debt ceiling deal affect Social Security payments?
With the partisan standoff in Washington holding up a long-term solution to raising the debt ceiling, what federal government payments will be at risk?
What is frictional unemployment? What causes frictional unemployment in the US?
Unemployment is rarely considered a good thing, but having a small pool of out-of-work individuals can be seen as a sign of confidence in the jobs market.
Fourth stimulus check: which states are making cash payments?
With no sign so far of a fourth federal stimulus check, some US states, including Texas and California, have decided to send residents a direct payment.
Jobs report shows little progress despite removal of additional UB
The decision to allow the supplementary jobless support to expire in September was controversial and early figures suggest that it has not boosted employment.
(Photo by OLIVIER DOULIERY/AFP)
Could the unemployment rate affect a future fourth stimulus check or other benefits?
On Friday the Bureau of Labor Statistics released the jobs report for September, which showed that just 194,000 new jobs were added that month as the nation’s economic recovery continues to stagnate.
That represents little more than half the number that were added in August, and considerably less than the 1.1 million that were added in July. The September figures fell short of economists’’ predictions and have sparked concern, with the more dangerous winter months ahead.
In response to the underwhelming statistics many lawmakers have called for additional forms of financial support to be introduced, replacing some that have been removed in recent months.
Welcome to our stimulus checks and Child Tax Credit live feed
Hello and welcome to our live blog for Sunday 10 October 2021, bringing you the latest updates on a possible fourth federal stimulus check in the United States, and other, similar payments being sent out at state level. We'll also be focusing on subjects such as the Child Tax Credit, which has so far seen three monthly payments of up to $300 per child go out to eligible households.