IS SOCIAL SECURITY DISABILITY GOING BROKE?
The Board of Trustees report for SS and Medicare was released in July. It is apparent that one of the reasons that ALJs have become more stringent in awarding benefits is that there is an immediate need to shore up the Disability Insurance Trust Fund. As presently calculated, the depletion of reserves is projected to occur as soon as 2016!!! Houston, we have a problem! The end result has been that weaker cases won’t get paid while strong ones will.
When it comes to retirement though, the report states that IF NO ACTION IS TAKEN The SS Trust Funds will be able to pay 100% of scheduled benefits until 2035 and at 79% thereafter using income tax payroll revenue.