US Social Security disability fund to run dry next year: Report

[slipperylobster]

Let's be clear that this is disability and many if not most are younger people. While some need it, it is also widely abused as is welfare.

This isn't pensioners.

Cheers.

Glad you pointed that out. I remember years ago when we were told social security would dry out before I reached 62.

2 years left....and crossing the fingers.

However....politicians and special interest groups alway claim the sky is falling ...especially just before an election. I would not start squirming on the "pension" but I bet many are squirming about the ss disability.... (I am not one of them)

[slipperylobster]

As another poster indicated, before any cuts or discussion of cuts to social security/disability, all the rampant fraud must be wiped out. Millions of dead and nonexistent are collecting benefits, millions who should not be eligible.

What do the dead and nonexistent do with it?

Their loved ones don't inform the authorities and carry on claiming I presume.

Exactly true in the Philippines (for USA expats/retired servicemen who were receiving checks in the mail...or direct deposits in their wive's accounts.) Let us just say that the refrigeration industry was making huge profits on the sale of "man sized" freezers...in the outlying provinces.

Eighteen years of living there..and attending VFW discussion groups was enough to figure out what was going on. The Embassy even started demanding "proof of life" annually...at one point. If you did not answer, you would get cut off.

Edited July 23, 2015 by slipperylobster

[chrisandsu]

The old buggers have been scamming SS for years , I know a guy that has a business that makes plenty of profit but still draws the SS . All you have to do is make out you are only earning $18 k a year and you are fine . It's robbing the younger generation from ever seeing a pension , welfare scroungers come in all shapes and sizes , brown hair or grey !

I disagree. The businessman paid into social security his entire working life and therefore has earned his distribution whether he needs it or not. Social Security was not set up as a needs based system (as you suggest) and changing the law would require political discourse that will never happen because rich voters lose. They give up something and get nothing in return. I may not need it either when I retire but I am not going to give it up willingly as I have paid into it my entire working life and have earned it.

Obviously it's needs based if the rules clearly state you can only earn an additional $18 k to receive it ! if we all want to be greedy we are not part of the solution .

[KOZMO]

When the economy went south in the USA many more people applied for Social Security Disability....there is serious fraud here. Combining the funds would be the wrong thing to do. Deal with the fraud problem.

This is why I say fix the problem and create more jobs. More people paying in and less people applying.

I think most people want to work, even the disabled, but what else to do if you can't find work.

I actually think there is very little fraud. Anyone who has gone through the process knows it is not easy to get approved.

To be approved for social security benefits you have to prove you are unable to work!!!! SSI and all the free stuff Obama gives to his own is what is the problem!!! only under obama has the COLA not been increased!!!

The idiots who voted for him wanted a change and now they are getting it!!!!! no other president has destroyed so much of the American DReam!!! I hope America will turn around once he is gone!!

[BKKSnowBird]

This is about SSDI, not SSI.

Edited July 23, 2015 by BKKSnowBird

[sammygood]

so much money is waisted thanks to big pharma selling at scandalous profits, or how would you call a $7000 a shot injection & other useless medical procedures & pills ?

i would love to see a president that would say: let's do something about prevention and ban all GMO foods, till independant 3rd party can certify those foods are not causing diabetes, cancer, obesitas, ...

would save the people about 500.000.000.000 dollar a year (half a trillion)

[samthefish]

They'll keep sending billions to fund Israeli zionists though. You can bet your last dollar on that.

Yeah. Charity should start at home.

Funnily enough, I agree with this Republican view, "But Republicans say they want changes in the disability program to reduce fraud and to encourage disabled workers to re-enter the work force."

Wipe out benefit fraud and use creative thinking to get some people employed. Just because you are in a wheelchair does not mean your brain and hands don't work.

My experience is that most, especially younger disabled are very motivated to work. Unfortunately these people usually have multiple health issues.

Mental problems,pain and medications don't make working easy even if your brain and hands work.

[lostoday]

They'll keep sending billions to fund Israeli zionists though. You can bet your last dollar on that.

Yeah. Charity should start at home.

Funnily enough, I agree with this Republican view, "But Republicans say they want changes in the disability program to reduce fraud and to encourage disabled workers to re-enter the work force."

Wipe out benefit fraud and use creative thinking to get some people employed. Just because you are in a wheelchair does not mean your brain and hands don't work.

My experience is that most, especially younger disabled are very motivated to work. Unfortunately these people usually have multiple health issues.

Mental problems,pain and medications don't make working easy even if your brain and hands work.

Look at all the folks in congress - they don't have a brain and have not done a lick of work in years but still they get jobs?

[sgtsabai]

A lot of right wing talking points here, in other words a lot of bullshit. Wide spread fraud in SSDI is a lie straight from faux (not the) news and other right wing hate shows just as is are the lies about SNAP and voter fraud. Ok, voter fraud does exist, doctored electronic voting machines, voter ID laws, gerrymandering, all done by the right wing GOP (see Koch (John Birch Society and ALEC). Put people to work with living wages, stop the offshoring of jobs, stop the corporations and plutocrats from hiding their income offshore and we will see more money available. Raise the limit on the SS cap and make the rich pay the same % as we did, or do. We are supposed to take care of those in need. You right wingers can call it welfare or what ever, to not care for those in need shows a complete lack of humanity. The teabagging GOP is responsible for all the shortfalls, along with Cheney/Bush et al, just as they are the shortfall in the VA budget. They want to strangle government programs so they can can say "see it doesn't work, privatize it", and give the money to their plutocrat masters. They are trying to steal from SS to pass a much needed transportation bill. The rich and corporations don't pay taxes or much, hence the phony deficit crisis. It isn't a deficit crisis, it is a revenue crisis. Government is not a business nor should it be run like a business. A bunch of heartless people posting on here.

[thaibeachlovers]

No doubt Obama is overjoyed that the finacial crisis he caused is going to become someone else's problem.

[willyumiii]

"The annual report card on the financial health of Social Security and Medicare shows that the federal government's largest benefit programs are feeling the strain of aging baby boomers as they both approach milestone anniversaries."

The huge increase in population due to the baby boomers resulted in a huge increase of the workforce paying into Social Security for the past 60 years.

This should have increased revenues proportionally..

The government has been using that money for every pet project including funding wars and has never paid a cent back.

That is criminal.

But no criminals will ever be charged.

[willyumiii]

No doubt Obama is overjoyed that the finacial crisis he caused is going to become someone else's problem.

Obama caused??

He has spent his time in office repairing the damage done by G W Bush that almost broke the country for the benefit of big banks and corporations.

Between the unnecessary wars fought on credit and the banking disaster caused by GW, Obama inherited the worst financial situation in history.

Little irresponsible George II, left a huge steaming pile of crap on the White House porch and Obama has done a great job of cleaning it up.

The USD is up again and I benefit from the better exchange rate....Thank you Barry.

You have a lot of nerve saying Obama caused a financial ( spelled correctly ) crisis!

[willyumiii]

The grand entitlement society in the US is failing... This shortfall in SS Disability funding has been known for some time and has only gotten worse as more and more people go on the dole... Unfortunately, this is merely the tip of the iceberg as the estimated US unfunded liability for Social Security, Medicare, Medicaid and the ACA through the year 2100 is over $200 trillion USD...

http://www.npr.org/2011/08/06/139027615/a-national-debt-of-14-trillion-try-211-trillion

The other shoe has already dropped on government employee pension funds, which are estimated to have a $2 trillion USD shortfall, and this is IF the bond market stays healthy, with it isn't...

http://www.zerohedge.com/news/2015-07-18/pension-shocker-plans-face-2-trillion-shortfall-moodys-says

Enjoy it while you can because the party is about over...

Social Security is an entitlement.

For over 50 years I paid a percentage of MY PAY into Social Security every week!

Now that I am over 62 years old, I am entitled to get some of MY Money back monthly.

It is a Security for my old age, that I invested in and I paid for.

If an irresponsible government has squandered MY MONEY on pet projects and wars, it is there responsibility to make sure MY MONEY is available when I need it.

I need it now.

When I go to the store and pay for a loaf of bread, I am entitled to that loaf of bread because I have paid for it!

Is this a difficult concept to understand?

If so,maybe you qualify for a mental disability claim?/?

Edited July 23, 2015 by willyumiii

[Scott]

Off-topic posts and replies removed.

[beechguy]

No doubt Obama is overjoyed that the finacial crisis he caused is going to become someone else's problem.

Obama caused??

He has spent his time in office repairing the damage done by G W Bush that almost broke the country for the benefit of big banks and corporations.

Between the unnecessary wars fought on credit and the banking disaster caused by GW, Obama inherited the worst financial situation in history.

Little irresponsible George II, left a huge steaming pile of crap on the White House porch and Obama has done a great job of cleaning it up.

The USD is up again and I benefit from the better exchange rate....Thank you Barry.

You have a lot of nerve saying Obama caused a financial ( spelled correctly ) crisis!

And you have a lot of nerve saying it is all GW"s fault. I like how you guys conveniently ignore what the Democrats did before GW took office.

If you don't think Bill and Hilary weren't standing with their hand out, you would be blind.

The fact is, both parties are to blame for letting the SS and SSDI system get into this shape, but that's what happens when they listen to the 47% to get elected.

[elgordo38]

Why dont the politicians take a haircut for a change no accountability yet again wake up america.

Your dealing with a Republican congress forget it. They are not noted for helping the poor and down trodden. They would sooner have more wars and military spending increases.

[beechguy]

All the while Wall Street continues to show record profits.

And what does that have to do with SS or SSDI? Or, is this just another opportunity to bitch because someone else has some money, and you don't.

[Trouble]

First off Social Security was meant to be an insurance safety net, NOT a retirement fund. There is no reason everyone who paid into the system should not benefit from it whether rich or poor. The problem is far too many people do not prepare for old age by saving for it. With regard to the Disability Trust Fund, it is common knowledge that even people that have had good jobs and nearing retirement find ways to claim disability before they retire thus getting a bonus at retirement time in either tax credits or extra money in retirement. As was said by Rand Paul there are far too many people with anxiety problems or back problems and the punishment for fraud way to light. Far too many people rationalize that they deserve benefits and intentionally break the law to get them. 11 million people with disability? What percentage of the working/retired population. I once knew a friend in the Army who played basketball one weekend and broke his leg. I performed well during his 4 or 6 years in the Army but upon discharge got a 10 percent disability retirement entitling him to a small check each month for the rest of his life. He went on to work at other jobs without a problem. This is exactly the type of thing going on sucking the disability trust fund dry. This has multiplied tremendously during the economic downturn. People now are figuring any way they can to get government benefits. The is the nature of the way things are today. It will eventually suck the system dry but the lawmakers will just kick the can down the road and do nothing to prevent fraud or tighten up on what counts as a disability. The liberals want to insure everyone gets something and the conservatives never can come up with a plan to deal with the problems so they can debate it with the opposition.

[NeverSure]

All the while Wall Street continues to show record profits.

LOL. I've never heard anyone who has money say anything like that. I've heard it said only by people who don't know how to make money for themselves.

Those people would be the same one's who think those who are smarter and harder working than they are should support them. Right?

The OP, whether the OP knows it or not is about people sucking the SSDI fund dry and increasing in numbers right along. Once any country decides it's only "civilized" that everyone be supported that country is doomed to failure. Few will work if someone else will do it for them.

Every Western country is drowning in budget deficits and debt and yet people call for more. If you want to know where that will end, get out your 7/11 calculator.

Cheers.

[sdanielmcev]

A lot of right wing talking points here, in other words a lot of bullshit. Wide spread fraud in SSDI is a lie straight from faux (not the) news and other right wing hate shows just as is are the lies about SNAP and voter fraud. Ok, voter fraud does exist, doctored electronic voting machines, voter ID laws, gerrymandering, all done by the right wing GOP (see Koch (John Birch Society and ALEC). Put people to work with living wages, stop the offshoring of jobs, stop the corporations and plutocrats from hiding their income offshore and we will see more money available. Raise the limit on the SS cap and make the rich pay the same % as we did, or do. We are supposed to take care of those in need. You right wingers can call it welfare or what ever, to not care for those in need shows a complete lack of humanity. The teabagging GOP is responsible for all the shortfalls, along with Cheney/Bush et al, just as they are the shortfall in the VA budget. They want to strangle government programs so they can can say "see it doesn't work, privatize it", and give the money to their plutocrat masters. They are trying to steal from SS to pass a much needed transportation bill. The rich and corporations don't pay taxes or much, hence the phony deficit crisis. It isn't a deficit crisis, it is a revenue crisis. Government is not a business nor should it be run like a business. A bunch of heartless people posting on here.

When the dems held both houses and the presidency as recently as 2008, your argument falls flat. They did nothing.

Speaking of hate, you sure spread a lot.

And voter fraud? You really don't know much about politics. Someone correct me if I am wrong, but the only prosecutions of voter fraud have been against dems. In liberal areas.

[ABCer]

Social Security is an entitlement.

For over 50 years I paid a percentage of MY PAY into Social Security every week!

Now that I am over 62 years old, I am entitled to get some of MY Money back monthly.

It is a Security for my old age, that I invested in and I paid for.

If an irresponsible government has squandered MY MONEY on pet projects and wars, it is there responsibility to make sure MY MONEY is available when I need it.

I need it now.

When I go to the store and pay for a loaf of bread, I am entitled to that loaf of bread because I have paid for it!

Is this a difficult concept to understand?

If so,maybe you qualify for a mental disability claim?/?

Hey, Willy, don't lose your nerve. Nobody's arguing with you, definitely not me. I am around 75 and stopped worrying about small problems.

The real problem is: - if the Gov'ts act irresponsibly and squander money (any way - bad management or direct theft) - what is left to do? Putting them in jail will not help us.

Another artificially induced baby boom? It may be a pleasant but slow way out. Another major war? I'm afraid we are getting there...

And the winner is... quiet China!

[CrummyJuggler]

The old buggers have been scamming SS for years , I know a guy that has a business that makes plenty of profit but still draws the SS . All you have to do is make out you are only earning $18 k a year and you are fine . It's robbing the younger generation from ever seeing a pension , welfare scroungers come in all shapes and sizes , brown hair or grey !

I disagree. The businessman paid into social security his entire working life and therefore has earned his distribution whether he needs it or not. Social Security was not set up as a needs based system (as you suggest) and changing the law would require political discourse that will never happen because rich voters lose. They give up something and get nothing in return. I may not need it either when I retire but I am not going to give it up willingly as I have paid into it my entire working life and have earned it.

Obviously it's needs based if the rules clearly state you can only earn an additional $18 k to receive it ! if we all want to be greedy we are not part of the solution .

No, obviously it is not. Medicaid and food stamps are needs-based. If you are needy you can claim those benefits. Social Security must be earned through work history and paying SS taxes. If you were self-employed your entire life and paid no SS taxes you will not get a benefit. If you did not work at all and paid no SS taxes you will not get a benefit. If you lived and worked outside the US and did not pay SS taxes you will not get a benefit. If you worked but did not earn enough credits you will not get a benefit. (I am excluding spousal benefits obviously) Needing a pension does not qualify you for a pension. Therefore it is not needs based. I cannot be any more clearer.

Yes, the government allows you to continue to earn money while still being retired and collecting SS. The cutoff must be the $18k you cite. This allows someone to continue to contribute to society and improve their standard of living but if you earn more than this arbitrary amount you probably are not retired and should still be paying SS taxes.

Someone who has paid into SS and earned the benefit is not greedy for taking it, whether they need it or not. If you believe otherwise, feel free to start a movement and send your check back every month and tell them that you don't need it and it would be greedy for you to accept.

[CrummyJuggler]

The grand entitlement society in the US is failing... This shortfall in SS Disability funding has been known for some time and has only gotten worse as more and more people go on the dole... Unfortunately, this is merely the tip of the iceberg as the estimated US unfunded liability for Social Security, Medicare, Medicaid and the ACA through the year 2100 is over $200 trillion USD...

http://www.npr.org/2011/08/06/139027615/a-national-debt-of-14-trillion-try-211-trillion

The other shoe has already dropped on government employee pension funds, which are estimated to have a $2 trillion USD shortfall, and this is IF the bond market stays healthy, with it isn't...

http://www.zerohedge.com/news/2015-07-18/pension-shocker-plans-face-2-trillion-shortfall-moodys-says

Enjoy it while you can because the party is about over...

Social Security is an entitlement.

For over 50 years I paid a percentage of MY PAY into Social Security every week!

Now that I am over 62 years old, I am entitled to get some of MY Money back monthly.

It is a Security for my old age, that I invested in and I paid for.

If an irresponsible government has squandered MY MONEY on pet projects and wars, it is there responsibility to make sure MY MONEY is available when I need it.

I need it now.

When I go to the store and pay for a loaf of bread, I am entitled to that loaf of bread because I have paid for it!

Is this a difficult concept to understand?

If so,maybe you qualify for a mental disability claim?/?

Agree with your post except for one point. You will not get "some" of your money back, you will get back far more than you ever paid in. Many times over in fact. Just for example, 25 years ago a person could have lived comfortably on a $35k per year income and paid a few thousand in SS taxes per year. When it comes time to collect, you will receive that amount every month.

[lostoday]

Agree with your post except for one point. You will not get "some" of your money back, you will get back far more than you ever paid in. Many times over in fact. Just for example, 25 years ago a person could have lived comfortably on a $35k per year income and paid a few thousand in SS taxes per year. When it comes time to collect, you will receive that amount every month.

Social Security Now Takes More Than it Gives

Social Security has reached another critical threshold: For the first time, a typical husband and wife retiring today can expect to collect less in benefits than it paid in payroll tax over the course of their life.

http://business.time.com/2012/08/07/social-security-now-takes-more-than-it-gives/

[CMNightRider]

I wonder why there is no danger of the welfare fund ever drying up.