Skip to comments.Social Security Disability: What Happens When It Runs Out of Money?
Posted on 07/17/2014 3:05:46 PM PDT by TurboZamboni
Social Security helps not only retirees but also roughly 9 million of people suffering from disabilities. Unfortunately, the trust fund that covers disability payments is in even worse financial condition than the trust fund that covers retirement benefits. What will happen when the disability program's trust fund runs out? In the following video, Dan Caplinger, The Motley Fool's director of investment planning, talks about the two Social Security trust funds, noting that the latest estimates give the retirement trust fund about 20 more years before it runs out of money, but the disability trust fund is slated to be used up by 2016, just two years from now. Dan notes that if it does run out of money, recipients will only get about 80% of their scheduled benefits, with cuts happening automatically.
(Excerpt) Read more at fool.com ...
Well, that and tax the rich.
Call up professors Cloward and Piven. They have all the answers.
I grew up in depresion days and today, my saying is ... Brother, you asked for it.
Twenty five year old college grads pay 25% of their wages to SS Will they get to stop doing that? They know they’ll never see it
“Social Security helps not only retirees but also roughly 9 million of people suffering from disabilities.”
Remember when clintoon claimed to have “ended welfare as we know it”? Turn the disability rules back to the rules of 1991 and see how quickly the problem fixes itself.
Yes folks, a huge drain on the Social Security Disability fund is actually just more welfare - most of it for people that are perfectly capable of working.
Each year, the Federal Reserve Board projects the likely demand for new currency, and places an order with the Department of the Treasury's Bureau of Engraving and Printing, which produces U.S. currency and charges the Board for the cost of production. The new-currency budget for 2014 is $826.7 million, and reflects the following costs per denomination:
|Note||Cost of Production|
|$1 and $2||5.4 cents per note|
|$5||10.1 cents per note|
|$10||9.2 cents per note|
|$20 and $50||10.2 cents per note|
|$100||13.1 cents per note|
I agree that there is fraud. But are you suggesting that more than 50% of SSDI recipients are able-bodied and can work? I know several men who worked in the trades and their bodies just quit on them. SSDI is for people like this.
What trust fund? LMAO
Do they still think we buy into that garbage?
Exactly - QE, unlimited debt buying and money printing from the FED means the government never has to say NO or deny any progressive, social-engineering project. Its a beautiful thing.
And conservatives scoff when I tell them they will constantly be fighting a losing battle against leftist, economic and SOCIAL trends as long as we have a fiat currency.....
The government printer working overtime.
One thing they can do is quit giving SSI to kids with ADHD.
When they run out of money??? LMAO, seriously, you are killin me here.
The country is broke with a capital B. There is nothing, nada, zilch, backing out budget, treasury, or the mighty (and worthless) green back.
I wonder when the illegal immigrant and foreign national children’s trust funds go broke...
“Trust” and FEDGUVINC go together like fire and gasoline.
” But are you suggesting that more than 50% of SSDI recipients are able-bodied and can work? “
Don’t know that for sure - but I know this for sure: the ‘categories’ that qualify for disability and the threshold for disability are radically different for the 1991 rules than they are for the 1996 rules. I guess people just started working hard after 1996?
Sad thing is, it doesn’t have to be that way.
I respect the military. I’m willing to respect elected officials too, if they’d just earn it.