Social Security Disability Fund Could Run Out

[The Straight Story]

Social Security Disability Fund Could Run Out

Inside a large building on the north side of Columbus is one of the most important offices in state government.

"We have about 600 employees now and we do over 212,000 claims for Ohioans with disabilities now for Social Security," said Erik Williamson, deputy director of the Division of Disability Determination with the Rehabilitation Services Commission (RSC).

...


"The trend right now seems to be following mental allegations where as it was at one time more often physical," said Tom Melfo, manager of the Division of Disability Determination.

...

Still, last year $6.5 billion was paid out in disability benefits.

At this rate, the fund will be dried up by 2017.

http://www2.ohiovotes2011.com/news/2012/jan/12/3/social-security-disability-fund-could-run-out-ar-894185/

[phasma ex machina]

1. Shutdown the war machine and give the people a trillion.

[richmwill]

2. I see your war machine cuts, and raise you 90% of the NASA budget.

$18.7 billion budget for NASA just last year. Disgusts me.

[DonCoquixote]

5. netiher nasa not ss should be cut

both are bled dry by the one percent, and nasa has made tech that helped the middle class and raised their standard of living, as ss mantains that middle class standard of living. The military is a much fatter pig

[Better Believe It]

3. The projected shortfall is neither a surprise, nor a matter of great concern.

From the Strengthen Social Security Coalition


Concern has been raised that as early as 2017 the Social Security Disability Insurance Trust Fund will not be able to pay 100 percent of promised benefits. This is easily remedied by reallocating revenues from the much larger Old Age and Survivors Insurance Trust Fund to the Disability Insurance Trust Fund. Congress has done reallocations between trust funds several times before. Combined, both programs are fully funded for the next 25 years or more. Such a reallocation does not require any benefit cuts or revenue increases.

The projected shortfall in the Disability Insurance trust fund, projected to occur as early as 2017, is neither a surprise, nor a matter of great concern.

•Social Security’s income and assets are held in two trust funds, the Old Age and Survivors Insurance Trust Fund (OASI) and the smaller Disability Insurance Trust Fund (DI). •OASI represents about 82 percent of total Social Security spending; DI represents about 18 percent.
•Social Security’s major source of income is from a 12.4 percent levy on wages up to $106,800, assessed on both employers and employees. Of those payroll tax contributions, 10.6 percent goes to the OASI Trust Fund, and 1.8 percent goes to DI. Neither fund can pay benefits unless it has sufficient income and assets to cover costs.

Read the full article at:

http://strengthensocialsecurity.org/disability-insurance-news-flash-no-news-here

[woo me with science]

4. Thank you for this.

Bookmarking.

[Better Believe It]

7. Pleased you find this informative. We need to counter the anti-social security propaganda ....

in the media claiming the fund is in serious trouble.

[valerief]

6. Well, as long as rich people can get richer and there's enough money for WAR , then everything

is A-OK. Cuz making rich people richer and having WAR (same thing) are the most important things in the world.