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Record U.S. Disability Payouts
beneteau
Member Posts: 8,552 ✭✭✭
Published October 26, 2012/FOXBusiness
As the latest monthly jobs numbers are due out next Friday, the U.S. may again see a drop in the unemployment rate.
But the country is seeing a record rise in the number of federal disability beneficiaries.
This month, the number of Americans collecting disability benefits from the Social Security Administration rose to a new record of 8,803,335, government data show (for more, click here.) That's up from the previous record of 8,786,049 set in September, and is up nearly 20% since February 2009, the second month of President Barack Obama's term in office.
It's a safe bet that, if the president is re-elected, and the same policies stay in place, at current growth rates the 1.36 million workers added to the federal disability payrolls under President Obama's term will outstrip those added under President George W. Bush's eight years in office, 2.4 million.
The Social Security disability fund is expected to become insolvent in 2018, says the Congressional Budget Office (CBO).
The White House has noted rising federal disability beneficiaries cause a drop in the labor force in a report last December: "Workers on SSDI [Social Security disability insurance] rarely return to the labor force, resulting in a loss to society of the economic contribution those workers could have made. Thus, keeping the long-term unemployed in the labor force should be a priority."
Complete story
As the latest monthly jobs numbers are due out next Friday, the U.S. may again see a drop in the unemployment rate.
But the country is seeing a record rise in the number of federal disability beneficiaries.
This month, the number of Americans collecting disability benefits from the Social Security Administration rose to a new record of 8,803,335, government data show (for more, click here.) That's up from the previous record of 8,786,049 set in September, and is up nearly 20% since February 2009, the second month of President Barack Obama's term in office.
It's a safe bet that, if the president is re-elected, and the same policies stay in place, at current growth rates the 1.36 million workers added to the federal disability payrolls under President Obama's term will outstrip those added under President George W. Bush's eight years in office, 2.4 million.
The Social Security disability fund is expected to become insolvent in 2018, says the Congressional Budget Office (CBO).
The White House has noted rising federal disability beneficiaries cause a drop in the labor force in a report last December: "Workers on SSDI [Social Security disability insurance] rarely return to the labor force, resulting in a loss to society of the economic contribution those workers could have made. Thus, keeping the long-term unemployed in the labor force should be a priority."
Complete story
Comments
Neal
In previous adms it was really hard to get SSDis but under the present POTUS and his giveaway crew evidently the requirements have been relaxed and just about anyone breathing now can get a gov't check with a Doc's excuse. I know in DE a couple of SS judges were refusing app's right and left and were called on the judicial carpet for it...sadly. But it has turned into another giveaway BO program that is just going to make us go broke quicker IMO.
While I do not Like Obama, this did not just Happen it has been going on for years. But it seems to be that you need to know how to work the system. I think that is taught in Inner city school systems.
quote:Originally posted by gary wray
In previous adms it was really hard to get SSDis but under the present POTUS and his giveaway crew evidently the requirements have been relaxed and just about anyone breathing now can get a gov't check with a Doc's excuse. I know in DE a couple of SS judges were refusing app's right and left and were called on the judicial carpet for it...sadly. But it has turned into another giveaway BO program that is just going to make us go broke quicker IMO.
While I do not Like Obama, this did not just Happen it has been going on for years. But it seems to be that you need to know how to work the system. I think that is taught in Inner city school systems.
Yes SIR... !
Last week a lady came into my clinic with a sick dog and said she was on SSDI and could not afford to pay anything to treat her dog. She was carrying a $59 carton of cigs. I'm also ticked when I see a fat person get out of a car in a handicap parking and go trucking into a store and an obvious impaired person has to walk across the parking lot.
When I smoked it was 3 packs a day. At that price all I could afford was cigs and nothing else. Sure am glad I quit now I can afford other things.