The Social Security Administration announced as expected Thursday that there will be no adjustment, or COLA, for the first time since automatic boosts were instituted in 1975. That's because inflation was negative for the past 12 months.

Obama's proposal would include seniors, people with disabilities, veterans and retired railroad workers, bringing the total cost to between $13 billion and $14 billion.

Experts on Social Security blasted the plan, both as a replacement for the COLA and as a way to stimulate the economy. Seniors don't deserve the money without inflation, they said, and don't need it as much as those laid off in the recession.

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