Why is Social Security Vital to Millennials?

Young adults are showing an interest in the country’s Social Security programs, as they have concerns over funding, according to the group American Progress. Photo of courthouse

Recently, Rebecca Vallas, the Director of Policy for the Poverty to Prosperity Program, testified before the House of Representatives, indicating the importance of programs like Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI) for millennials.

She noted that Americans ages 18 to 34 are facing high rates of unemployment and lowered economic security. “[M]illennials face higher poverty rates than other generations before us did at the same age, and today, more than one in five young people ages 18 to 24 live in poverty,” Vallas said.

Vallas noted that a 20-year-old who begins to work currently faces a one in four chance of dying or becoming disabled before reaching full retirement age. “The disability and life insurance that [Social Security] provides is especially important in this regard,” Vallas said, mentioning how one-third of Americans who receive Social Security benefits are not retirees.

Vallas also discussed how the SSDI program is expected to run out of money by 2016 unless Congress does something to address funding issues. Vallas noted that in a recent survey, millennial respondents strongly opposed cutting Social Security, as 80 percent indicated that they viewed programs as “more important than ever” and more than three-quarters said they actually supported increasing benefits.

Are You Unable to Work? Contact Our Tulsa SSDI Attorneys

We are happy that Vallas, who is the former Deputy Director of Government Affairs at the National Organization of Social Security Claimants’ Representatives (NOSSCR), is speaking out about the importance of these programs for young Americans.

SSDI and SSI are not entitlement programs—they help contribute to our society by providing economic assistance to those who cannot work, who are disabled. If your disability has left you unable to function in a work environment, our Tulsa SSDI attorneys can help you determine whether you are eligible for benefits.

Contact our Tulsa Social Security lawyers today and let us review your case. For more information about the SSDI process, you can visit our FAQ page. We will continue to discuss the importance of the SSDI program in Wednesday’s blog.

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

Source: https://www.americanprogress.org/issues/poverty/report/2015/09/09/120777/investing-in-millennials-through-an-economy-that-works-for-all/

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