Sunday, August 21, 2011

Great News: Social Security Disability on Verge of Insolvency

Don't worry, we'll just keep pouring money into it until it works or something.

Must be Bush's fault.
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.
No doubt Obama will remind his constituents that the evil Republicans want to cut them off. He'll promise to pay them with Monopoly money or something.

1 comment:

fiatlux said...

From observing renters in large complex over a number of years, there no longer seem to be no requirement that someone receiving "disability" is actually "disabled" unless you mean the conatant drunken stupors and meth induced nightmares they suffer.

They tend to come in unmarried pairs and the couples seem to have numberous ailments thaa the medical prpofession is unable to diagnose. Chronic pain. fatigue and genreral lethargy are among the symptoms mentioned. Whatever it is is always incurable but not very debilitating when it's time to party