Saturday, April 27, 2013

Social Security Disability Insurance (SSDI) Goes Insolvent in 2016?

“The nation's disability rolls continued to climb sharply, as 76,983 workers enrolled in the Social Security Disability Insurance program in April, according to new data from the Social Security Administration.

More than 300,000 have joined the program so far this year. The number of workers on permanent disability is now a record 8,865,586, a net increase of one million in just three years.

Today, 6.5 workers are on disability for every 100 who have a job. That's double the ratio from two decades ago. The number of people on disability has climbed almost sixfold since 1970.

That influx has caused SSDI costs to climb faster than its dedicated payroll tax revenues. The program has been running a deficit since 2009, and will be insolvent by 2016, according to the program's administrators.” - Investors Business Daily, 04/25/2013

The entire article appears in the link below:

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