Why is the Social Security Administration Facing Funding Hurdles?

In our blog recently, we have discussed the ongoing problems that are lingering regarding funding for the Social Security Administration. Photo of benefit form

On the heels of the agency’s 80th birthday, recently, acting Social Security Commissioner Carolyn Colvin gave an interview to the Salt Lake Tribune, enlightening readers about some of the hurdles the SSA may face moving forward.

Economists have projected that the Social Security Disability Insurance (SSDI) may run out of funding in late 2016, potentially resulting in a 20 percent payment cut to beneficiaries, unless our elected officials do something. Some of the proposals being discussed include increasing the retirement age and reallocating funds between the OASI and disability programs, as well as raising the $118,500 cap at which income is no longer subject to Social Security taxes.

“There have been lots of proposals and all of them have pros and cons,” Colvin told the Tribune. “Congress will have to have some time to find something they can agree on in a bipartisan way, and that’s not going to happen overnight.”

Colvin also addressed the reduction of SSA field offices throughout the country—she said the agency needs to do a better job educating the public about the online services it offers. To read her interview, you can click on the source link at the bottom of this page.

Obtaining Social Security Benefits

We will continue to follow any news coming out of Washington about SSA services. Our lawyers are committed to providing the disabled with services when it comes to collecting SSDI benefits.

For more information about the SSDI application and appeals process, you can visit our Social Security FAQ page. People who are interested in collecting benefits should not let the news about funding or field office closures dissuade them from applying.

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

Source: http://www.sltrib.com/news/2410408-155/at-79-and-counting-social-security



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