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Social Security´s disability trust
fund could fail to cover all
benefits early as 2016

Fox News, by Jim Angle

Original Article

Posted By:LittleHoodedMonk, 1/26/2013 1:48:00 PM

As President Obama faces pressure on the left to defend federal entitlement programs from the benefit cuts that the Republicans say are necessary to keep the programs solvent decades down the road, one part of Social Security could fall short of paying out full benefits within a few years -- even while Obama is still president. Over the long term, Social Security and Medicare have promised tens of trillions of dollars more in benefits than the nation can pay for under current policies. But Social Security´s disability trust fund is in even worse shape, and current estimates say by 2016

Comments:
I am on Social Security benefits and also going to be 65 this year. So many of US from the time we first worked and prepared for retirement "knew" that there was this "security net" if needed. I did. Now, because of all the habitual social engineering by the dRATS and wasting countless dollars with abortions, illegals and their rights, we who paid for and earned it are suddenly being "scared" to know it may not be there anymore. One more reason to win back Congress to stop the waste on Capitol Hill that threatens our fading futures.

      


Post Reply  

Reply 1 - Posted by: Keekng, 1/26/2013 1:55:13 PM     (No. 9140793)

George W. Bush and the Republicans attmpted to fix the SS situation eons ago but the dim dems said, "No problemo"

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Reply 2 - Posted by: valinva, 1/26/2013 2:07:47 PM     (No. 9140808)

Just wait till we legalize 12M illegals and half of them apply for SS disability.

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R-G1
  
R-VAR_AD


 
Reply 3 - Posted by: uno, 1/26/2013 2:07:53 PM     (No. 9140809)

#1 - Yup!! I remember that clearly!

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Reply 4 - Posted by: vesicant, 1/26/2013 2:07:59 PM     (No. 9140810)

I wonder if I can retire to Italy, Greece, or the Cote d´Azur. At least I´d have the Mediterranean climate.

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Reply 5 - Posted by: oh-heck, 1/26/2013 2:15:31 PM     (No. 9140827)

At the time of Obama´s first inauguration, the Trustee was suggesting that contributions to the program needed to be doubles or payments out cut by 50%. The reason the need was so great is because there are limitations on how fast the changes will actually go into effect. Instead of taking action, Obama has made things worse by extracting 500 billion to go to Obamacare and allowed a large increase in the numbers on Disability.

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Reply 6 - Posted by: Grambo, 1/26/2013 2:20:40 PM     (No. 9140836)

Check out Panama, #4.

The Social Security Trust Fund is non-existent. But that is small potatoes compared to the real train wreck that could hit, literally, any day, namely, a jump in interest rates. If the Fed’s manipulation of interest rates flags one little bit, the cost of servicing US government debt will explode, and federal government discretionary funds will vanish. The peril that Obama’s spending orgy has put this country in cannot be overstated.

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Reply 7 - Posted by: Right Republican, 1/26/2013 2:49:31 PM     (No. 9140877)

IIRC, legal immigrants were allowed to go on SSDI even if they were injured in their home countries and never paid a dime into USA SS. If true, the SSTF was bound to become insolvent sooner than later.

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Reply 8 - Posted by: retiree, 1/26/2013 3:02:00 PM     (No. 9140904)

When I heard Obama just the other day talk about entitlements and included social security, it made me litteraly want to grab him by the neck and tell him that for those worked to get SS are not ENTITLEMENTS!!

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Reply 9 - Posted by: bighambone, 1/26/2013 3:02:31 PM     (No. 9140906)

Human nature being what it is, the disability portion of social security is very vulnerable to being raided, it´s already being raided to some extent now, especially if the liberal Democrats grant what amounts to amnesty for up to 20 million mostly poor illegal aliens, millions of who will claim to have qualifying disabilities as soon as they become eligible.

There are literally thousands of different physical and mental disabilities that a person can claim these days to get on the disability rolls. You can imagine the problems that the system is going to have in dealing with millions of non-English speaking people, represented by lawyers who will be specializing in tailoring disability claims with just enough evidence to squeak through, so that their clients can start getting paid and commence paying attorney´s fees. You can bet that liberal Democrat politicians will then be calling for the disability adjudication system be streamlined and "red tape" cut so that all those potential new liberal Democrat voters can start collecting.

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Reply 10 - Posted by: BaseballFan, 1/26/2013 3:08:05 PM     (No. 9140913)

I´ve been forced to pay into this Ponzi scheme for 36 years.
If I ever see a dime out it will be a miracle.

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Reply 11 - Posted by: Catherine, 1/26/2013 3:20:39 PM     (No. 9140933)

Take all illegal aliens and their kiddies off the system. That should be a start.

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Reply 12 - Posted by: Kansas Conservative, 1/26/2013 3:28:48 PM     (No. 9140938)

Good - I hope the SS disability scam system goes bankrupt. We need to abolish the entire federal disability system. It is nothing but a way to pay lazy people not to work. It is also a Democrat vote buyer. We need to return to the principle that if you want to eat, you need to work. And the disabled should be taken care of by their families.

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Reply 13 - Posted by: MattMusson, 1/26/2013 3:29:50 PM     (No. 9140941)

AUTOMATIC CUTS KICK IN!

As soon as SS reaches a pay as you go status - an automatic 25% across the board reduction takes place.

That is something the Media does not report!

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Reply 14 - Posted by: whyyeseyec, 1/26/2013 3:43:19 PM     (No. 9140969)

Another crises to be exploited after the 2014 midterm election cycle. Expect SS tax increases early in 2015, along with raising the age for full benefits to 70 or beyond. The govn rationale? People are living longer, or if the glass is half empty for you, people are dying sooner, courtesy of Obamacare Death Panels.

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Reply 15 - Posted by: Vivi, 1/26/2013 3:44:29 PM     (No. 9140971)

Theft. And there were some years when my dear husband was self employed that paying this tax was not easy.

Just send me a check for what we were forced to pay in. I won´t even charge you interest you slimy sleezeball boomtown conmen.

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Reply 16 - Posted by: 3XALADY, 1/26/2013 4:09:53 PM     (No. 9141009)

I´m thinking I read 11,000 people are being added to the SSDI rolls DAILY. No freakin´ wonder it´s going broke. And then they are talking about adding 20 million illegals. But nothing will happen to their new raise or overpaid salary for 100+ days´ work a year.

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Reply 17 - Posted by: youngtexan, 1/26/2013 4:43:23 PM     (No. 9141048)

That´s because they keep believing those who lied to them saying that they need it when they don´t.

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R_DBL_B
  


 
Reply 18 - Posted by: preciosodrogas, 1/26/2013 6:23:26 PM     (No. 9141172)

On the day SS goes broke so should the pols retirement fund. On the day they jump the eligibility age to 70 the pols retirement eligibility should jump to double the terms they are need. Whatever we suffer they should suffer double. As it is they have no skin in the game.

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Reply 19 - Posted by: monique, 1/26/2013 7:52:38 PM     (No. 9141261)

what can possibly be wrong with a system that pays people who only worked a couple of years at best more than the military pays its 20 year enlisted retirees?

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Reply 20 - Posted by: KTWO, 1/26/2013 8:23:28 PM     (No. 9141288)

I can´t produce the money by magic but I do suggest it would be better to not associate the Disability fund with Social Security at all.

The SS Administration does many things. And that results in some efficiency. But it leads to confusion when anyone suggests changing or fixing any one of the functions. Then Seniors scream and unscrupulous politicians happily mislead them to gain votes.

I would spin off each function to a separate agency for clarity.

Then fund the disability out of general revenues. IOW end the paycheck deduction and treat disability payments just like anything else the Congress must budget.


Similarly end any confusion that the various Medicare A,B,C,D etc are somehow associated with SS.

Why have ObamaCare and Medicare and GodKnowsWhatElseCare handled by separate agencies? They are all federally run medical programs.

Right now SS is a catch-all phrase. Separate the activities and also stop all phony accounting such as lending various fund monies to the Treasury.



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Reply 21 - Posted by: losgatos, 1/26/2013 8:51:07 PM     (No. 9141326)

When my husband applied for SS about 15 yrs ago we were motorhoming. We were in Las Cruces, NM at the time so that was the office where he applied. He was the only person in the office over about the age of 30. All the young people applying for SS disability appeared to be very healthy. We were shocked and disgusted.

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Reply 22 - Posted by: pmarc078, 1/26/2013 9:02:57 PM     (No. 9141342)

SS disability is the new welfare.....

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Reply 23 - Posted by: Coy860, 1/26/2013 9:16:34 PM     (No. 9141355)

The Fair Tax would generate much more revenue to fund social security.
Even pimps and drug dealers and under the table workers would pay, because it is a consumption tax. Of course, the income tax and IRS would have to go away..to be replaced by the Fair Tax.
The sloths in Congress had better start being the solution instead of the problem, or it will be tar and feathers for all of them.

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Reply 24 - Posted by: ColonialAmerican1623, 1/26/2013 9:54:25 PM     (No. 9141396)

When we pay our taxes, we have no choice as to where it is spent or wasted, and there lies the problem.

Why are our tax dollars going to foreign countries while they nip and tuck domestic programs ? Why are people who never worked a day in this country allowed to tap the system, not only with SS, Medicaid, and social services, but IRS ?

How many kids are collecting because they are labeled with ADD instead of being corrected at home ?

Cut the perks for the elected officials.

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Reply 25 - Posted by: Trigger2, 1/27/2013 5:34:49 AM     (No. 9141736)

Once the Death Panel kicks in and all the old people are given sugar pills and told to die, SS will once again be fully funded.

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