Social Security disability on verge of insolvency

Surprise surprise... NOT.

Social Security disability on verge of insolvency

Laid-off workers and aging baby boomers are flooding Social Security's disability program with benefit claims, pushing the financially strapped system toward the brink of insolvency.

Applications are up nearly 50 percent over a decade ago as people with disabilities lose their jobs and can't find new ones in an economy that has shed nearly 7 million jobs.

The stampede for benefits is adding to a growing backlog of applicants — many wait two years or more before their cases are resolved — and worsening the financial problems of a program that's been running in the red for years.

New congressional estimates say the trust fund that supports Social Security disability will run out of money by 2017, leaving the program unable to pay full benefits, unless Congress acts. About two decades later, Social Security's much larger retirement fund is projected to run dry as well.

Last year, Social Security detected $1.4 billion in overpayments to disability beneficiaries, mostly to people who got jobs and no longer qualified, according to a recent report by the Government Accountability Office, the investigative arm of Congress.

At the same time, the application process can be a nightmare for legitimate applicants. About two-thirds of initial applications are rejected. Most of these people drop their claims, but for those willing go through an appeals process that can take two years or more, chances are good they eventually will get benefits.

So it will run out of money in 2017... if you believe that... you betcha they gonna find some ``solution`` that will extend it to infinity... by cutting benefits, cutting people allowed to received benefits and similar ``solutions``.

Originally posted by Vitchilo
So it will run out of money in 2017... if you believe that... you betcha they gonna find some ``solution`` that will extend it to infinity... by cutting benefits, cutting people allowed to received benefits and similar ``solutions``.

Why would they have to do any of that stuff when they have the magic money printing presses to solve all the world's problems?

Wiemar Republic here we come!


Weeeee!

wait till all the Prozac kids get on the disability rolls because of the disabling results of years of forced RXs to medicate their AHD or whatever alphabet soup name of behavior disorders are.

the SSDI people could be enrolled in the SSI payment rolls instead, thus technically keeping the disability section of SS solvent...its just another accounting trick, ledger sheet entry... with the 'Austerity' measures creating this need

Here are some numbers to go with this thread.

www.washingtonpost.com...

7.6 million receive disability. Collected 93 billion in payroll taxes in 2010 but paid out 124 billion.

Congress goal is to go after those already receiving disability and try to find out if they are still disable. Seems like a lot of people are about to be harassed.

I've seen alot of younger people park in those handicapped parking spaces, run (I mean literally run!!) into the store, or where ever....
how does on get on of those little signs for your car that says you can legally park in the handicapped spaces, I want one!!! heck, they can run....I can't!!!

I don't want the SSI, I have a job, I just want to be able to park closer to the store...
heck, maybe I'll shop more if I could do that....

The older seniors and disabled that are 62 and over will be kept on Social Security......the rest of them.....I'm not sure.

reply to post by dawnstar

how does on get on of those little signs for your car that says you can legally park in the handicapped spaces, I want one!!!

Get your doctor to label you as disable.

A lot of them young ones are probably driving someone's else car. The car I drive has disable plates. My mom gave it to me but it costs too much to put the title in mt name.

But I'm not one of those parking in handicap spaces. I park way in the back so nobody can ding my car.

Does anyone know if US money will be running out, anytime soon, for this kind of stuff?

www.moneynews.com...
(As of March 2011)

“We are spending in Afghanistan $2 billion a week. This is an order of magnitude less than that,” even if it is unclear how many assets are involved and how much they have been used so far, Harrison said.

The United States spent at least $168 million hitting Libya’s air defense systems with Raytheon Co. Tomahawk cruise missiles and Northrop Grumman Co. B-2 bombers to open air space over the North African nation, according to data compiled by Bloomberg.

But, I thought there were trillions there and the Koch brothers wanted to steal it all. I guess the Koch Konspiracy will have to find a different target.

Social security could be the straw that breaks the camel's back. If social security suddenly shut down by some executive order, and they printed new money to pay off everyone who has entitlements into social security, that would flood the markets with fast and quick money which would perhaps make the economy do well for a day or so and then the establishment would be screwed because they just wasted their socialist program

Or Ron Paul gets elected and he just allows people to opt out. Me, I don't work so I opted out long ago.

I just want to know what that "2 billion a week" in Afghanistan is going toward. Are we giving -them- Social Security, instead?

"I want to believe!"

reply to post by simone50m

I just want to know what that "2 billion a week" in Afghanistan is going toward.

I reckon "bribes, fuel, ammo " would be on the list.

Maybe the government could hire the disabled to print money or make ammo.

My father had a sever stroke two years ago, every inch of the process to apply has been a nightmare, with his doctors all agreeing there is no way he can be work in any way.

Hes 58, worked harder than most people I have ever known, putting his kids through college, working so many hours so his wife could stay home to raise us kids.

Growing up I held so much resentment for my father due to the fact that he was never there, he was either working or asleep, He would work 16-18 hour shifts daily sometimes 6 days a week.

This man has now watched his 401k with nearly 500k in savings drop to 90k, and now has Social Security doctors telling him he's fine...

Ive had to watch one of the strongest men I have ever known slowly fall apart, and watch the Company he dedicate 26 years to kick him to the curb, and the government he trusted so much abandon him...

Yet the government calls this # "entitlements" Like he's waiting for a hand out, he put money his entire life into this #, paid his taxes, and NOW he has to rely on his sons to survive, He views him self as a burden to us (he's not) because he's so proud and this # is killing him slowly.

...

AND Thats is someone who PLANED, who saved, who invested in his future, and the best investment turned out to be three very smart children who make enough that we can help him, its hard, and its a struggle, we have gone from saving and investing ourselves for our own retirement and future, to living paycheck to paycheck to help him with medical and other expenses.

In this economy our situation is precarious, if any of his three adult children where to lose there job we would lose the ability to care for him.

I can only imagine the dire straights those that have no one are in...

reply to post by Vitchilo


Since everybody loves Ron Paul, here's a post that briefly explains his stance on Social Security and some things that he thinks should be done about it: Ron Paul on Social Security

reply to post by benrl


Sounds a lot like me except I hired a lawyer right after the first rejection and medical insurance to go to the numerous specialists for my various conditions. The process took almost three years and backpay way for four years. Lawyer fees contingent on backpay.

ganjoa

reply to post by Vitchilo

Social Security disability on verge of insolvency

I have absolutely no doubt that our government is looking for a way to renege on its contract for Social Security. They don't have the patience to wait for the boomers to die off naturally so, any avenue to hasten the process means money saved for them.

The moment they start booting disabled people from the program and they begin dying from lack of food and medicine, that will save even more money. And due to the nature of the elderly and disabled, there's little chance for a large scale protest on the steps of Washington. They will be discarded and they will die and the corporate media will ignore the issue and no one will have a voice... or even notice.

There's no doubt at all that this is coming. There's equally as little doubt that it can be prevented.

social security is a big problem and so is social security disablity.

people are on it who shouldnt be what is needed is massive reform and heres the real kicker

those who are on ssi were automatically enrolled in medicare which means 1 government check is paying for both programs.

ssi check minus medicare fee that goes back to the government

social securirty and medicare is the biggest scam ever created next to the federal reserve.

IMO, this is the most abused program that I see.
I know someone with a 'listed disease' that went on it as soon as she had several kids. Now, she does have a horrid disease that is affecting her SOME, but she still volunteered at her children's school 5 days a week!
Well, I say, at least the community gets something out of her.

I think that disability should not be paid if there's a family income over say 50k. Maybe whatever median income is. This chick's husband makes 70k and she draws off the govt for her and her kids and will until she goes on social security I guess.

I love that our govt. has a safety net for people. I just don't think it should be used like a fun times trampoline.

And why, why, WHY do people with disabling genetic diseases go and have TONS of kids?

reply to post by neo96

social securirty and medicare is the biggest scam ever created next to the federal reserve.

Why not root out those who abuse the system instead of punishing those who simply want what they paid for?

The system is no scam. People who abuse it are scammers... and those who confuse the two might someday themselves need it.

I have seen more abuse of the welfare system and medicaid than Social Security. How many people are on food stamps that never paid one dime into the system? How many of those receive a monthly check every month for the more kids they keep having and still never paid a damn dime into the system. How many of them get free section 8 housing because they have kids and never paid into anything. They also get free medical care, drugs and hospital care for themselves and all of their kids. Then when they file their taxes at the end of the year get thousands of dollars back because they have earned income credit for each kid but never paid any taxes.
At least people on Social Security and disability have paid into the system at some time in their lives. On the news the other day 40% of Americans on food stamps. By the way you can`t get food stamps if you draw Social Security or disability.