Friday, July 24, 2015

IT BEGINS Social Security Disability Trust Fund Running Out of Money; Will Be Depleted in 2016

In a new report, the Social Security Administration  reports that the disability trust fund will be depleted by the fourth quarter of 2016.

 As explained in the report’s summary:
Social Security’s Disability Insurance (DI) Trust Fund now faces an urgent threat of reserve depletion, requiring prompt corrective action by lawmakers if sudden reductions or interruptions in benefit payments are to be avoided.

Congress  could come up with a short-term fix to boost the financing for the disability program while also changing benefits in some way. For example, President Obama recently proposed making it so that people who receive unemployment benefits cannot receive Social Security disability benefits at the same time.

Do not count of government disability or retirement payments  in the long run, The funds are just not there, The problem with the disability trust fund is just the tip of the iceberg.

 -RW 

6 comments:

  1. Here we go and of course correction solution (abolishment) wont be done, they'll increase the tax rate.

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  2. A ponzi scheme running out of money?

    You don't say.

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  3. It is my limited understanding that the disability income payouts is where the vast majority of the fraud occurs in the SS ponzi scheme. But the beneficiaries of that fraud are psychiatrist and lawyers who have an entrenched scheme within the scheme to help extract payments from the system in turn for a percentage.
    A blogger who goes by the alias "Alone" at their site, thelastpsychiatrist, has documented this fairly well.

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    Replies
    1. Actually, the beneficiaries are politicians, who borrow most of the money that's paid in, minus current benefit payments, and simply promise to pay it back - someday....

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  4. They'll sooner increase fund payouts than decrease them.

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  5. how is it the plan that we all pay into all our lives, gets depleted...but welfare never runs out of money.. Didn't the first Bush borrow a bunch of money from SSD

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