Seniors to benefit from either economic stimulus plan

Today, the Senate plans to debate their version of the economic stimulus plan as President Barack Obama traveled to Indiana to hold a townhall-style meeting to campaign for a bill he has said will help the country avert disaster.

"So we can't afford to wait. We can't wait and see and hope for the best. We can't posture and bicker and resort to the same failed ideas that got us into this mess in the first place," Obama said at the meeting.

The president added he hoped Congress passes the bill quickly so that American can feel some relief in the poor economy.

Seniors to benefit from either economic stimulus plan

For senior citizens, it appears either version of the plan will be beneficial towards them.

The Senate's $827 billion plan has $17 billion set aside for a one-time $300 payment to all Social Security recipients. The plan also includes $87 billion of federal money to assist states struggling with their current budgets for the Medicaid health care program.

The U.S. House of Representatives $819 billion plan has $4 billion to provide a one-time additional Supplemental Security Income payment to elderly and disabled people of $450 for individuals and $630 for married couples. This plan also has slightly more going towards Medicaid with $127 billion.

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