New CBO Report Confirms that Baby Boomers Lead SSDI Growth

A new report from the nonpartisan Congressional Budget Office (“CBO”) confirms what we have been saying all along – the rise in disability beneficiaries has more to do with demographics than unfounded claims that more and more applicants are gaming the system. More details on what it takes to qualify for disability benefits are available from a Tulsa Oklahoma Social Security disability attorney.

The CBO is not a political agency; it is a budget and economic analysis agency whose employees are nearly all economists or public policy analysts who hold advanced degrees in those fields. CBO staff provides economic forecasts, analysis of each year’s federal budget, and estimates of costs of federal proposals. Last Monday, the CBO released an evaluation of the financial state of Social Security Disability Insurance (“SSDI”) benefits and how various proposals would affect it.

In evaluating SSDI, CBO confirmed a statement we have made concerning the rise in disability beneficiaries: the jump in beneficiaries is due, at least in part, to America’s Baby Boomers. The share of disability benefits awarded to older Americans has jumped from 67 percent to 76 percent. The share of benefits going to those between the ages of 25 and 44 fell during the same time period from 31 percent to 22 percent. This is a change we should expect – the risk for suffering a disability or other medical condition rises substantially as we age, and Baby Boomers are a large segment of our population.

Meanwhile, the unemployment rate for disabled workers continues to remain at about twice the rate of non-disabled Americans. In our posts later in the week, we will discuss the intersection of disability benefits and returning to work. If a disability has prevented you from working, give us a call at 918-587-0050 to find out whether you can apply for SSDI or SSI benefits.

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

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