From
Bloomberg:
The cost of long-term disability
claims rose for at least a fifth straight year as expenses tied
to the aging workforce drove payments higher for insurance
companies. ...
“On average, older people have higher wages and it’s harder for them to get back to work,” [Council for Disability Awareness] CDA President Barry Lundquist said in a phone interview. “When you think about the baby boomers and how old they are now, they have a much higher chance of becoming disabled -- maybe a four or five times higher chance in a given year than someone that’s in their twenties or thirties.”
Why would private insurance companies be unable to hold down their long
term disability costs? I thought that was just a problem for the Social
Security Administration. How do Republicans spin this as being Obama's fault?
Easy. Blame the president because they ahve to work longer due to a poor economy. As such, they have greater health issues. sic
ReplyDeleteThe Obama Administration has bungled the recovery, meaning that older workers with health problems that might have continued working in a more robust economy are unable to find jobs and have to turn to disability (private and/or public) instead.
ReplyDeleteI agree that the US government hasn't done near enough to boost the economy - it needs to spend more. However, there are those in the gov't who oppose this, and want smaller deficits, which means higher unemployment. Obama could ask for more spending, but he wouldn't get it from the current Congress, so I don't primarily blame him for the weak economy.
ReplyDeleteWith US physical infrastructure crumbling, Obama could seriously jump start the economy if Congress would only let him.
ReplyDelete