Where Does Most Social Security Money Go?

How Social Security Disability Insurance (“SSDI”) actually works and whom it helps sometimes gets lost in the negative headlines about the program, which seem to pick up during any budget crisis. You do not have to search for long to find headlines bemoaning the explosion in SSDI beneficiaries or claiming that it is a system that encourages people not to work. As a target, though, SSDI may not be the best one.

Statistically, SSDI is not the biggest target. There has been rapid growth in SSDI applicants and beneficiaries in recent years, but there are a number of reasonable explanations for this that we have discussed in past posts. Out of all Social Security beneficiaries, nearly 81 percent are those receiving retirement or survivor benefits; in other words, a large portion of all Social Security money goes to retired Americans and those with deceased spouses or parents.

Of the remaining 19 percent or so who receive SSDI benefits, 20 percent of those beneficiaries are children or spouses of Americans who are so severely disabled that they are unable to work. With the remaining beneficiaries who are disabled workers receiving SSDI benefits, even the most critical estimates do not suspect widespread fraud; that is, only a small percentage of a small group is willing to risk a federal criminal conviction, jail time, and restitution for the sake of a little over $1,000 a month.

As the numbers show, SSDI benefits, in general, are not a big part of Social Security’s share of the budget. The vast majority of Social Security money goes to retired Americans, children who lost their parents, widows, and widowers, and family members of disabled workers. SSDI benefits may make a good political target, but they are not a good financial one once you understand how they work and whom they help.

On Wednesday, we will discuss another reason why SSDI criticisms are often off base – you already paid for Disability Insurance during your working years.

Have you suffered a disability that prevents you from working? If so, details on applying for SSDI or SSI benefits are available from a Tulsa Oklahoma Social Security Disability attorney.

Troutman & Troutman, P.C. – Tulsa Social Security Disability attorneys

    I didn't think there was a caring professional considerate attorney firm on the planet, but Troutman & Troutman proved me wrong. From the receptionist to the legal assistance to the attorney and more they were exceptional people.

    - Robert S.

    They did a fantastic job getting everything gathered up and getting the trial done as quickly as possible. Anytime I had a question they were patient and help me understand what was going on. Especially Christy and Charlie were great.

    - Michael M.

    Steve Troutman was able to get my short-term and long-term disability for me. Then Erin another lawyer for their firm got my Social security disability for me. Great people.

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    Mr. Troutman walked me through the entire process. Heather was available each time I called, answered all my crazy questions, and helped me fill out forms along the way. I was never treated like I was wasting time.

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    Erin and Keith were fabulous! They were compassionate, helpful, and very responsive! They made the process very smooth and painless every step of the way.

    - Valerie W.

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