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Social Security Disability Going Broke - FAST ! !
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Social Security
Social Security Disability Going Broke - FAST ! !
<font face="arial, helvetica, sans-serif" size="1"><div>You worked hard for it. Now talk to others on how to save Social Security.</div></font>
The FIscal Times 07/27/2012 : Disability Benefit Program Is Going Broke Target date of running out of money 2016. WE HAVE A PROBLEM ! ! ! Some highlights from the link above - "More Americans q
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Cat:7a9899c6-bb01-48a5-bd56-e73d9d7e3998Forum:17f83b76-a805-4002-b497-6dbb421b0b8a
Cat:7a9899c6-bb01-48a5-bd56-e73d9d7e3998Forum:17f83b76-a805-4002-b497-6dbb421b0b8aDiscussion:b4130271-d00c-4779-96f2-063c23beb0f6
Forums » Work & Retirement » Social Security » Social Security Disability Going Broke - FAST ! !
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Social Security Disability Going Broke - FAST ! !
posted at August 7, 2012 10:13 PM EDT
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Posts: 1923
First: November 27, 2011 Last: May 18, 2013 |
The FIscal Times 07/27/2012 : Disability Benefit Program Is Going Broke Target date of running out of money 2016. WE HAVE A PROBLEM ! ! ! Some highlights from the link above - "More Americans qualified for disability than found jobs over the past three months, and since 2000, the number of beneficiaries rose by 73 percent, even though the workforce rose by less than 10 percent. But of the 8.7 million beneficiaries, federal officials claim the vast majority – with some estimates as high as 99 percent – will never rejoin the workforce and remain dependent on the federal government . . . . . . . . . Hints about what the reforms could look like appeared last week in a pair of reports by the Government Accountability Office and the Congressional Budget Office. the General Service Administration indicated that the government could narrow the health eligibility standards for receiving disability. Guidelines for those suffering from mental disorders and muscle pain – about 67 percent of all beneficiaries – were last updated in 1985, shortly after Congress liberalized the screening process. Stricter criteria would limit enrollment and reduce the costs. Separately, the COB issued an analysis detailing potential savings of $22 billion in 2022 from reducing benefits across the board by 15 percent, eliminating disability payments for anyone older than 62 eligible for the Social Security retiree program, and raising additional tax revenue specifically for SSDI.. . . . Another quick fix discussed by federal officials involves raising the share of Social Security tax revenues directed toward the disability program, although that would come at the expense of the portion of the trust fund for retirees already projected to reach insolvency by 2035. Despite elements of bipartisanship, Obama has been battered outside the beltway over the issue. Gary Alexander, Pennsylvania’s secretary of Public Welfare, has circulated a PowerPoint slide claiming that 4.7 million workers have signed up for disability under the president’s watch. The Social Security Administration reports a significantly smaller, but meaningful, net increase of 1.23 million during the same period." There were 13,000 applications a day submitted last month ! |
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Re: Social Security Disability Going Broke - FAST ! !
posted at October 15, 2012 8:19 PM EDT
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Posts: 3
First: October 15, 2012 Last: October 15, 2012 |
Not sure what your point is. It's pretty darned tough to qualify for Social Security Disability, you rarely if ever get it because of 'aches and pains'. The article talks about more people applying under Obama (as if he had some kind of control over who applies for it) but does not mention the very large numbers who are turned down. Only about 1/3 are ever approved. My guess is that before the SSDI fund runs out of money they will find a way to transfer money to it, I can't see them cutting payments by 20% when most of these people are living on less than $1200 a month. Here are some good statistics without any political spin about the number of applicants by date and the number of applications approved: http://www.ssa.gov/oact/STATS/dibStat.html |
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Re: Social Security Disability Going Broke - FAST ! !
posted at October 18, 2012 12:01 PM EDT
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Posts: 585
First: May 28, 2012 Last: May 15, 2013 |
The republicans dont want to mention how many brave returning soldiers from the Iraq and Afghanistan Wars are now on or waiting for Disability from their shattered lives. Corporate Billionaires and Millionaires dont want or need S.S. or Medicare and are trying to buy Congress to dismantle both. The Right Wing Republicans are buying into this dismantling with the corporate donations they are getting and our seniors, disabled and Veterans will be left out in the cold. If the Republicans have the chance they will destroy Social Security and Medicare, just watch. Response to Re: Social Security Disability Going Broke - FAST ! !: Not sure what your point is. It's pretty darned tough to qualify for Social Security Disability, you rarely if ever get it because of 'aches and pains'. The article talks about more people applying under Obama (as if he had some kind of control over who applies for it) but does not mention the very large numbers who are turned down. Only about 1/3 are ever approved. My guess is that before the SSDI fund runs out of money they will find a way to transfer money to it, I can't see them cutting payments by 20% when most of these people are living on less than $1200 a month. Here are some good statistics without any political spin about the number of applicants by date and the number of applications approved: http://www.ssa.gov/oact/STATS/dibStat.html Posted by lynneblack |
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Re: Social Security Disability Going Broke - FAST ! !
posted at October 19, 2012 8:54 PM EDT
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Posts: 1923
First: November 27, 2011 Last: May 18, 2013 |
In Response to Re: Social Security Disability Going Broke - FAST ! !: The republicans dont want to mention how many brave returning soldiers from the Iraq and Afghanistan Wars are now on or waiting for Disability from their shattered lives. Corporate Billionaires and Millionaires dont want or need S.S. or Medicare and are trying to buy Congress to dismantle both. The Right Wing Republicans are buying into this dismantling with the corporate donations they are getting and our seniors, disabled and Veterans will be left out in the cold. If the Republicans have the chance they will destroy Social Security and Medicare, just watch. Response to Re: Social Security Disability Going Broke - FAST ! ! : Posted by mandm84 Veterans get disability from the VA - that's not in jeopardy. The Disability portion (DI) of Social Securtiy is having financial problems. Perhaps you should read the last 2012 Annual Social Security and Medicare Trustee Report. "However, the Disability Insurance (DI) program satisfies neither the long-range test nor the short-range test. DI costs have exceeded non-interest income since 2005, and the Trustees project trust fund exhaustion in 2016, two years earlier than projected last year. The DI program faces the most immediate financing shortfall of any of the separate trust funds; thus lawmakers need to act soon to avoid reduced payments to DI beneficiaries four years from now." |
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Re: Social Security Disability Going Broke - FAST ! !
posted at October 19, 2012 9:05 PM EDT
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Posts: 1923
First: November 27, 2011 Last: May 18, 2013 |
In Response to Re: Social Security Disability Going Broke - FAST ! !: Not sure what your point is. It's pretty darned tough to qualify for Social Security Disability, you rarely if ever get it because of 'aches and pains'. The article talks about more people applying under Obama (as if he had some kind of control over who applies for it) but does not mention the very large numbers who are turned down. Only about 1/3 are ever approved. My guess is that before the SSDI fund runs out of money they will find a way to transfer money to it, I can't see them cutting payments by 20% when most of these people are living on less than $1200 a month. Here are some good statistics without any political spin about the number of applicants by date and the number of applications approved: http://www.ssa.gov/oact/STATS/dibStat.html Posted by lynneblack I guess you haven't noticed all the judges who are approving those claims that are being contested using a law firm. Read the 2012 Annual Trustee Report on Social Security and Medicare. "However, the Disability Insurance (DI) program satisfies neither the long-range test nor the short-range test. DI costs have exceeded non-interest income since 2005, and the Trustees project trust fund exhaustion in 2016, two years earlier than projected last year. The DI program faces the most immediate financing shortfall of any of the separate trust funds; thus lawmakers need to act soon to avoid reduced payments to DI beneficiaries four years from now. " |
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Re: Social Security Disability Going Broke - FAST ! !
posted at October 20, 2012 7:15 PM EDT
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Posts: 12532
First: February 29, 2008 Last: May 17, 2013 |
In Response to Social Security Disability Going Broke - FAST ! !: The FIscal Times 07/27/2012 : Disability Benefit Program Is Going Broke Posted by GailL1 The SKY is FALLING !!! Is there anything the republican party won't do to SCARE OLD PEOPLE !!! Enough already. The attacks on S S started in earnest during the Bush Administration and the first thing I heard after Obama was elected was Lindsay Graham on TV saying the republicans were going after Soc Security. I have to wonder if they didn't ram up the deficit during the Bush years so they have an excuse to get rid of SS and medicare which they hated from the time Reagan was in office & said if we passed Medicare we would lose our freedoms. The GOP is stumping for the wealthiest in our country and they just won't let seniors live in peace. Enough is never enough for these greedy billionaires who are trying to buy our Govt...... they are hoarders of money and the leading one is trying to be elected president today--the MORMON ...High Priest of the church.....MYTH Romney. |
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Re: Social Security Disability Going Broke - FAST ! !
posted at October 20, 2012 9:24 PM EDT
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Posts: 1923
First: November 27, 2011 Last: May 18, 2013 |
In Response to Re: Social Security Disability Going Broke - FAST ! !: In Response to Social Security Disability Going Broke - FAST ! ! : The SKY is FALLING !!! Is there anything the republican party won't do to SCARE OLD PEOPLE !!! Enough already. The attacks on S S started in earnest during the Bush Administration and the first thing I heard after Obama was elected was Lindsay Graham on TV saying the republicans were going after Soc Security. I have to wonder if they didn't ram up the deficit during the Bush years so they have an excuse to get rid of SS and medicare which they hated from the time Reagan was in office & said if we passed Medicare we would lose our freedoms. The GOP is stumping for the wealthiest in our country and they just won't let seniors live in peace. Enough is never enough for these greedy billionaires who are trying to buy our Govt...... they are hoarders of money and the leading one is trying to be elected president today--the MORMON ...High Priest of the church.....MYTH Romney. Posted by JANMB Did you read the 2012 Annual Social Security & Medicare Trustee Report on the Social Security Administration website? That's where I pulled the quote from on the DI (Disability Income) portion of Social Security. I didn't pull it from some right wing site. It covers the blight of Medicare and Social Security based on 2012 data from both of those entitlements. |
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Re: Social Security Disability Going Broke - FAST ! !
posted at October 21, 2012 4:32 AM EDT
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Posts: 585
First: May 28, 2012 Last: May 15, 2013 |
Social Security can be preserved by just raising the cap to include workers above $112,000, so what is the hold up ??? It might be that this group of people are the wealthiest and most influential in society, who dont want or need S.S. and may not care enough that others do. Just a hunch.Response to Re: Social Security Disability Going Broke - FAST ! !: In Response to Re: Social Security Disability Going Broke - FAST ! ! : Did you read the 2012 Annual Social Security & Medicare Trustee Report on the Social Security Administration website? That's where I pulled the quote from on the DI (Disability Income) portion of Social Security. I didn't pull it from some right wing site. It covers the blight of Medicare and Social Security based on 2012 data from both of those entitlements. Posted by GailL1 |
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Re: Social Security Disability Going Broke - FAST ! !
posted at October 21, 2012 9:27 PM EDT
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Posts: 1923
First: November 27, 2011 Last: May 18, 2013 |
In Response to Re: Social Security Disability Going Broke - FAST ! !: Social Security can be preserved by just raising the cap to include workers above $112,000, so what is the hold up ??? It might be that this group of people are the wealthiest and most influential in society, who dont want or need S.S. and may not care enough that others do. Just a hunch.Response to Re: Social Security Disability Going Broke - FAST ! ! : Posted by mandm84 The earnings cap is already at $ 110,100 for 2012 and will be raised year by year. Remember the higher your earnings record for SS, the higher your benefit ! Some people always pay in the max amount of SS taxes because of their yearly income - these people get the best in benefits because that is how the law is written. Most everybody I know, includes their projected Social Security benefit as part of their total retirement planning - these really aren't the very rich, rather people that have worked and saved, paid their SS & Medicare taxes and at retirement have an income that helps them provide for themselves - Many of them have a pension income or a 401K savings, perhaps an IRA of some sort. Asside from that, they have other funds that they have saved for their golden years. Is there something wrong with this picture? I am of the opinion that this is a good way to live in those golden years? |
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Re: Social Security Disability Going Broke - FAST ! !
posted at October 24, 2012 6:08 PM EDT
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Posts: 14588
First: January 28, 2008 Last: May 22, 2013 |
In Response to Re: Social Security Disability Going Broke - FAST ! !: In Response to Re: Social Security Disability Going Broke - FAST ! ! : The earnings cap is already at $ 110,100 for 2012 and will be raised year by year. Remember the higher your earnings record for SS, the higher your benefit ! Some people always pay in the max amount of SS taxes because of their yearly income - these people get the best in benefits because that is how the law is written. Most everybody I know, includes their projected Social Security benefit as part of their total retirement planning - these really aren't the very rich, rather people that have worked and saved, paid their SS & Medicare taxes and at retirement have an income that helps them provide for themselves - Many of them have a pension income or a 401K savings, perhaps an IRA of some sort. Asside from that, they have other funds that they have saved for their golden years. Is there something wrong with this picture? I am of the opinion that this is a good way to live in those golden years? Posted by GailL1 One thing . The higher payers get a much poorer increase in OA benefits for their added FICA paid than low or middle incomes so the payments are VERY progressive going from 100% of the low fraction to 15% of the top !! Raising the limit just exacerbates this.Karl |
Forums » Work & Retirement » Social Security » Social Security Disability Going Broke - FAST ! !
