Tag Archives: SSDIFunding

Is Social Security Healthier Than Everyone Realizes?

Have you heard the rumor that Social Security is dying? It’s a pretty big claim, and considering the bailout the Social Security Disability Trust got last year, some think it could be true. However, there are many details that are being left out by the doomsayers that think the end of Social Security is near. Here are a few of those details. Social Security Is Healthier Than You Realize Right now, experts say that Social Security will run out of money within the next 15-20 years, but there are some details they are leaving out. First off, the trust funds for Social Security retirement, survivor, and disability benefits added up to around $2.85 trillion in 2016. In 2015, those trust funds were at 2.81 trillion. That’s right, the Social Security trust fund is growing, and there’s even more good news you probably haven’t heard. The Social Security trust had a…
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How Long Will The Social Security Trust Last?

Last year Congress feared that the Social Security disability trust would run out in 2016, so lawmakers acted and took money from the Social Security retirement fund to extend how long the trust would last. Estimates projected that this measure would fund disability benefits up to 2022, and a new report confirms that estimate, but did that measure actually fix the problem? How Long Will The Social Security Trust Last? The annual Social Security and Medicare trustee’s report has just been released, and things seem to be on track for now, but the future of these programs is still in danger. The Social Security Administration predicts that it will only be able to pay 79 percent of promised benefits after 2034—if it combines and uses both the disability fund and the retirement fund. Separately, the retirement fund would only last until 2035 while the disability fund would be exhausted by…
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Will There Be Deep Social Security Benefit Cuts In 2016?

For months, people have been worried about issues with the Social Security disability trust, which was projected to run out of money later this year. Legislators in Washington and here at home have been arguing about the topic furiously, but solutions have been hard to come by. Will There Be Deep Social Security Benefit Cuts In 2016? Many senators have called for a reform of the SSDI system. Their goal is to make the system stricter than it already is to decrease Social Security fraud, but some question whether fraud is the problem with the system. The fraud incidence rate for Social Security is less than 1 percent, and measures could make the system even more difficult for people with disabilities to claim their benefits. To prevent certain security measures—and even longer waits for people waiting for their benefits—the Senate voted to shift tax revenue from the Social Security retirement…
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