Come 2018, even Social Security's staunchest defenders will have no choice but to admit that the program faces an urgent crisis.
That's when Social Security's Disability Insurance Trust Fund is due to run out, resulting in benefit cuts for disabled workers and their families.
And those cuts would be sharp — roughly 8% in 2018 and 16% in 2019 relative to scheduled levels. ...
[E]ven if the OASI [Old Age and Survivors Insurance] trust fund is still officially flush, it won't be able to automatically shift its Treasury-issued debt to the disability program.
Just one problem with this: Congress has previously allowed interfund borrowing and will undoubtedly do so again. The article mentions that this has happened in the past but assumes that it will not happen in the future. That is a ridiculous assumption. For all practical purposes, the two trust funds are one. There is a long term funding problem for Social Security in general. I wish we would get on to addressing it. The disability trust fund is not going to be the trigger for this to happen.
Let it run dry.
ReplyDeleteThe disability program lacks sufficient reason within adjudication.
And has too many over-paid government workers. For example,$100,000 or more. $80,000 -$99,999 is a bit much too.
Politically, how can Congress address it until the money really runs out and cuts are inevitable.
ReplyDeleteShould have just let states run their own disability programs.
ReplyDeleteSocial Security should have stayed just a retirement program.