Social
Security is facing a legislative reckoning, regardless of whether lawmakers
want it. The trust fund for the
disability program will run out in late 2016, Social Security’s Board of
Trustees warned in late July. Without
congressional action, disabled workers would immediately face a 25 percent cut in their benefits.
That is a prospect
lawmakers cannot easily ignore. Social Security Disability Insurance, while not
as politically sensitive as the retirement program, is massive. There were roughly
11 million disability recipients in 2013, drawing an average of more than
$1,100 in monthly benefits, according *to the Congressional
Budget Office. The Social Security Administration expects that it will
spend nearly $150 billion in fiscal 2015 on SSDI — a large sum even by federal
spending standards.
The program's
rolls have grown faster than anticipated, expanding sixfold, in the past three
decades, leading to an imminent shortfall in the program's finances.......To Read More....
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