Social Security disability fund will run out of money in 2016

Rick Moran
An excellent editorial in the Washington Examiner about the skyrocketing number of Americans enrolled in the Social Security disability insurance program. What happens to the workers who drop out of the labor force? Some retire, some become full-time parents, some go on welfare. But here's an important answer that is often overlooked: In 2011, on average, one net person has been added to Social Security's Disability Insurance rolls (and 3.3 to its retirement program) for every five net new jobs created. Since 1970, the number receiving DI has grown sixfold (from 1.4 million to 8.8 million), and the program expenses have grown tenfold, which is unsustainable. The federal government now spends more on disability than food stamps and welfare combined. In 2009, DI began paying out more in benefits than it took in from payroll taxes. By 2016, it is set to run out of money. Two factors are driving the program's explosive growth: first, newly liberalized eligibility standards....(Read Full Post)

COMMENTS ON AMERICANTHINKER