Why is There Debate Over Social Security Funding?

As we have been reporting in our blogs, there is debate nationally about Social Security Disability Insurance (SSDI) funding due to benefit cuts that could occur in late 2016. Photo of money

Sadly, there seems to be a standstill among our elected officials in Washington over funding measures. Earlier this year, GOP House members approved a rule that will make it very difficult to reallocate money between the SSDI program and the Old Age and Survivors Insurance program, a move that has been done multiple times in the past to alleviate funding issues.

Because of this, SSDI recipients may face a 20 percent cut in benefits by December 2016. Many political experts say that the squabbles among politicians over funding are all about timing, as the election cycle heats up for 2016.

Politico published the most comprehensive account of the process that we have seen recently. We have included a link to the article at the bottom of this blog. The piece details the academic and political points of view on the process. One thing most experts agree on—something must be done soon.

“There is room for compromise. The crisis is no surprise — as long ago as 1995, Social Security’s actuaries were predicting 2016 as a breaking point for the disability fund,” Politico reported. “And multiple academic papers from the center-left and center-right outline changes Congress could consider.”

Should I Speak to an Attorney About Social Security Disability?

If you are disabled, you should not let the ongoing political debate dissuade you from collecting benefits. If you are outraged by your representatives’ lack of action or response, you should let him or her know.

For more information about the SSDI process, speak with our attorneys. We will continue to keep you updated on this story. Visit our Social Security FAQ page if you have questions about the SSDI process.

Troutman & Troutman, P.C. – Tulsa Social Security disability lawyers

Troutman Touts: As of December 2013, more than 137,000 people in Oklahoma were receiving SSDI benefits.

Source: http://www.politico.com/story/2015/01/republicans-target-social-security-114382_Page2.html



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