Articles Tagged with Social Security Disability Budget

According to a recent news article from Huffington Post, Representative Paul Ryan is not at all happy with the bipartisan budget bill his staff helped draft to provide funding to the Social Security disability fund. This is the fund the United States Social Security Administration (SSA) runs to provide Social Security Disability Insurance (SSDI) benefits and Supplemental Security Income (SSI) benefits.

freedom-1-889853-mIf the budget legislation, which provided a few more years of funding to the disability fund, was not approved, around 10 million Americans would face a 19 percent reduction in their benefits checks each month, and this would be devastating for these Americans, as they would no longer be able to make ends meet and take care of their families. Continue reading

After hearing about how the Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI) programs would run out of money late next year, there was a great deal of fear that nearly 11 million Americans would face a 20 percent cut in their monthly benefits checks.

crack-graphic-1371406-mFortunately, Congress was able to come to an agreement about how to save the benefits program for the next few years, and President Barack Obama recently passed that piece of legislation into law. A recent article from Forbes takes a look at what this means for the American public in both the short term and long term. Continue reading

For at least the past year, we have been hearing a lot from the media and politicians running for presidential nominations about how the Social Security Disability Insurance (SSDI) benefits program and the Supplemental Security Income programs would run out of money in late 2016, resulting in a reduction of benefits by 19 percent across the board.   This across the board 19 percent budget cut would mean for the nearly 10 million Americans currently collecting disability benefits, their respective checks would be cut by 19 percent, leaving many of them below the federal poverty line with no way to take care of themselves and their families.   The United States Social Security Administration (SSA) runs both disability programs, as well as the Old Age and Retirement Program of which most people are familiar.

writing-a-check-2-701013-mWhile this budget crisis was getting closer, many politicians, mostly Democrats, were advocating for a reallocation of resources from the Social Security retirement program to the disability benefits programs. Even though Social Security Administration runs both the disability and retirement programs, the money comes from different funds, because they are not designated for the same purpose in terms of who the beneficiaries are. This would be relatively easy to do, since the retirement program is funded through the year 2034, according to most estimates, and it would only take enough money to reduce that number by one year to fully fund the disability program for at least the next 15 years. Continue reading

According to a recent news article from the Los Angeles Times, there is not likely going to be a cost of living allowance (COLA) for beneficiaries of the Social Security Disability Insurance (SSDI) program, the Supplemental Security Income (SSI) program and the Social Security Retirement and Old Age benefits system.

tightened100dollarrollWhile it may seem the reason there is no cost of living allowance for Social Security disability benefits recipients is because the money will run out in 2016, and there will be a 20 percent reduction in the budget, this is not the reason being suggested. It is now being suggested that gas prices are to blame. Continue reading

Aside from the budget crisis facing the Social Security program next year, one of the recurring themes is that many beneficiaries currently receiving Social Security Disability Insurance (SSDI) benefits are basically gaming the system and collecting a check when they really could be working. This criticism is often made along with assertions that Congress should not fix the 20 percent budget hit facing the program late in 2016.

1088940_2_annual_reports__3According to a recent news feature from The Economist Populist, statistics show that 99.8 percent of ally Social Security disability payments were free from any possibility of overpayment. In other words, even at the highest estimates of money from the Social Security disability benefits funds being paid out to claimants who should not be receiving benefits, this would account for only 0.065 percent of the annual budget for this disability program. This is such a small percentage, that even if the number was truly this high, and it is quite possible it is not, those speaking about people gaming the system are really making a lot of noise about what is not even a statistically significant problem. Continue reading

With the presidential election drawing closer, Republican candidates have ramped up their number of comments about what do to fix the program. While the candidates appear resolute in their vows not to fund the program in the near future, Congress recently passed a resolution making it more difficult to shift funds from the Social Security retirement fund to the Social Security disability fund.

crack-graphic-1371406-mA recent news feature in the Huffington Post looks at how the Republican Party will have to do “something” with respect to the impending budgetary crisis involving the disability program, even though they may not yet have a clear approach.   One member of Congress featured in this article is Rep. Paul Ryan, a Republican member of the House of Representatives from Wisconsin.

Ryan is currently chairing the House Ways and Means Committee. Continue reading

The candidates for the Republican presidential nomination have been making big headlines for the past several months talking about the problems with the Social Security disability benefits fund and how it is running out of money. While the candidates are not suggesting any specific plan for fixing the situation, they say a major overhaul is needed before agreeing to allocate additional funding to the program. Continue reading