“The problem with socialism is that you eventually run out of other people’s money,” Margaret Thatcher once said.
Apparently that’s becoming a problem here in the “land of the free,” too. Except it’s no longer “eventually.” It’s next year.
The federal government’s first entitlement land mine – the ever-expanding Social Security Disability Insurance (DI) trust fund – is going to run out of money in late 2016. For those of you calendar-challenged, that’s smack dab in the middle of the next presidential campaign.
Fun!
According to Social Security trustees, the fund “now faces an urgent threat of reserve depletion, requiring prompt corrective action by lawmakers if sudden reductions or interruptions in benefit payments are to be avoided.”
“While legislation is needed to address all of Social Security’s financial imbalances, the need has become urgent with respect to the program’s disability insurance component,” the trustees stated. “Lawmakers need to act soon to avoid automatic reductions in payments to DI beneficiaries in late 2016.”
A total of 11 million Americans currently receive an average monthly benefit of $1,017 from this program. That pool of dependents has soared in recent years, too.
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DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
5 comments:
As usual the Government hands out these checks without having medical documentation. There is more fraud in SSDI as there is in Medicare if not more. The second thing is to stop the Federal Government / Congress from robbing SSI for their political benefit. Also stop all Foreign Aide ASAP and put this money in SSI only for the legit people receiving benefits. This means only legal citizens and no immigrant illegible for SSI in any form for 10 years after entering the US legally.
Yet you never hear of welfare and food stamps running out of money.
Not to worry... There won't be an election next year, only Martial Law..
Did Queen Elizabeth just die? Not sure of the accuracy of sources.
No sweat... They will just "borrow" the money from Social Security.
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