Social Security Disability On Verge Of Insolvency

Laid-off workers and aging baby boomers are flooding Social Security's disability program with benefit claims and that's pushing the financially strapped system toward the brink of insolvency.

Applications are up nearly 50 percent over a decade ago as people with disabilities lose their jobs and can't find new ones in an economy that's shed nearly 7 million jobs.

The stampede for benefits is adding to a growing backlog of applicants -- many wait two years or more before their cases are resolved -- and worsening the financial problems of a program that's been running in the red for years.

New congressional estimates say the trust fund that supports Social Security disability will run out of money by 2017, leaving the program unable to pay full benefits.


You must be logged in to post comments.

Username:
Password (case sensitive):
Remember Me:

Read Comments

Comments are posted from viewers like you and do not always reflect the views of this station.
  • by MarielO Location: Los Angeles, california on Aug 23, 2011 at 10:04 PM
    After the undying issue of national debt ceiling, the Disability program is set to run out of funds in the next five or six years. You can also read this here for a complete information: Social Security Disability fund facing backlog and shortfalls. In addition, the social safety net in the U.S. is multi-faceted. The Social Security program alone contains three diverse individual programs. Social Security Retirement, Income, and Disability are all three individual programs. The three programs are also funded separately.
  • by Taxpayer Location: martin co on Aug 22, 2011 at 05:17 PM
    Its because of too many lazy so and so"s that wont work,There are ones in my own family,,nothing wrong with them except that they are lazy,just drawing a disability check and perfectly healthy.
  • by Jim Location: Washington, NC on Aug 22, 2011 at 01:10 AM
    I am disabled. I can't work, even though I'd love to. Seems people hate me because I can't. Does this mean I'm going to be homeless soon? That I'm going to die on the street somewhere? Couldn't they just send someone over to shoot me in the head and save nature the trouble of bumping me off? If you're going to toss me in the trash, just do it, but don't hate me because I'm what I am.
    • reply
      by Anonymous on Aug 22, 2011 at 02:59 AM in reply to Jim
      I don't know what it means, Jim. The way the country is going, we might ALL be homeless soon. I don't think most people are against payments to truly disabled people; it is the abuse of the system by people who don't truly need the benefits that makes most people angry. If the money runs out, though, I don't know what will happen. I think this country is headed towards another Great Depression and times are going to get very tough.
  • by Boxer on Aug 21, 2011 at 06:39 PM
    Really? Seems we have a lot of misinformed idiots with 2 cents worth. You can't work in this country unless you are illegible and get paid under the table, all the while sucking the life out of the working man receiving better health care and eating better than most Americans. The common man can't get a job because those jobs were all sent over to China and Mexico 20 years or so ago. Meanwhile we have lots of part time service jobs with no benefits everyday at WalMart, Target, Harris Teeter, the Mall, all the restaurants. When are we as a people going to stop the rich from making the rest of us poorer. Priced a pound of bacon lately? Wake up American, get mad.....make them here your voice!!! Bet the politicians benefits will double.
    • reply
      by Resa on Aug 21, 2011 at 08:27 PM in reply to Boxer
      Boxer, alot of illegals do work as you stated but that is not the only way. I work for a company who has hired people who were later discovered to be illegal. They had a N.C. Driver's license and a social security card. This is all they need to be hired. They buy these forms of ID, use them for awhile and change jobs frequently. Then they sell these to relatives who then use them to obtain employment. I know for a fact that 2 were denied unemployment for being illegal(although they possessed a valid license and SS card). They ESC did not report them and eventually they moved on as to keep one step ahead of being caught. Whenever it is discovered that they are illegal , it should be a law hat they MUS T be reported immediately.
    • reply
      by News for you on Oct 6, 2011 at 07:49 AM in reply to Boxer
      I got news for all of you . Your vote don't coun't . Neither does flapping your lips:) This country is run by the rich .Period . Not the Pres . or senate is going to help us . They get get paid regardless of what happens so they are on the rich side. They also don't pay taxes and get paid after they leave office so there you go . Crooks on the inside US GOVERNMENT is the problem . Not us disabled people.How about just get rid of all of THEM . That will solve our problems .
  • by T Maxx Location: G-vegas on Aug 21, 2011 at 06:37 PM
    Anonyous and NENC made some very good points, which I agree with. I believe if you are mentally and physically able to work. You should be working. Its a book that I read from time to time, there is a passage in there that states you dont work you dont eat.
  • by Anonymous on Aug 21, 2011 at 04:53 PM
    my 2 cents--If you can drive a car-you can work!
  • by anonymous Location: enc on Aug 21, 2011 at 03:08 PM
    Surprise... surprise... NOT! Anyone could see this coming three decades ago. Regular SS will soon also be bottom up. It simply cannot survive the demographic tidal wave of the aging boomers and there are simply not enough young workers to support them all through decades of retirement.
  • by Saw It Coming on Aug 21, 2011 at 02:39 PM
    During the Reagan Years, this issue came up....and was quietly swept under the rug.
  • by chill Location: Deep run on Aug 21, 2011 at 01:51 PM
    WE have alot of people that draws checks and still works under the table in our area.They to watch andlocate the frauds more.
  • by hobo on Aug 21, 2011 at 11:12 AM
    Get the politicians that robbed money from social security and used it elsewhere to payit back. I think this happened in the 70's or 80's, But you never hear the news talk about it.
  • Page:
WITN

275 E. Arlington Blvd. Greenville, NC 27858 252-439-7777
Copyright © 2002-2016 - Designed by Gray Digital Media - Powered by Clickability 128144468 - witn.com/a?a=128144468
Gray Television, Inc.