Quantcast
Connect with us

Social Security’s disability fund will go broke in 5 years

Published

on

New congressional estimates show that the account that Social Security disability checks are drawn from will be insolvent by 2017 without intervention, the Associated Press reported.

Applications for assistance from the already financially strained program are up 50 percent over the last decade, and cash is dwindling as demand far exceeds supply. When disabled people are laid off and can’t find a new job — an increasingly common scenario — they lean even more heavily on the fund.

ADVERTISEMENT

Social Security’s larger retirement fund is set to run out about 20 years after the disability money runs out, according to the same congressional estimates. The combined funds will run out in 2038, according to the Congressional Budget Office.

In 1994, the disability fund was poised to run dry, and money was transfered from the retirement fund — a course of action that is again recommended.

Approximately 56 million people will receive Social Security benefits this year, and last year benefits totaled out to about $124 billion.

ADVERTISEMENT

Report typos and corrections to: [email protected].
READ COMMENTS - JOIN THE DISCUSSION
Continue Reading

Breaking Banner

Eric Trump bashes the children of politicians profiting off their family name to enrich themselves: ‘It is sickening’

Published

on

President Donald Trump third child blasted children of politicians profiting from their relationship during a Saturday night appearance on Fox News with Jeanine Pirro.

"So where does Joe Biden get off been so pompous and above it all?" Pirro asked.

"If I was doing the same thing that that family was doing I’d be in jail," Eric Trump said.

"Why is it that every family in politics enriches themselves?" he asked. "It is sickening."

Watch:

Continue Reading

Breaking Banner

Trump ‘has done nothing wrong’: Lindsey Graham does not think ethnic cleansing is an impeachable offense

Published

on

Sen. Lindsey Graham (R-SC) slammed President Donald Trump for allowing Turkey's ethnic cleansing of the Kurds in Syria, but then defended the president against impeachment during a Saturday night appearance on Fox News.

Graham told Fox News personality Jeanine Pirro that he worried that 15,000 ISIS fighters could escape, allowing the terrorist caliphate to reconstitute.

The South Carolina Republican declared that America "will not tolerate" ethnic cleansing.

But then he was asked about impeachment.

"Impeachment is a bunch of bull," Graham declared. "It is BS."

"The president has done nothing wrong," Graham argued.

Continue Reading
 

Breaking Banner

Trump is ‘feeling threatened and running scared’ to cancel G-7 at Doral: ‘Art of the Deal’ co-author

Published

on

President Donald Trump announced late on Saturday evening that he was reversing his administration's decision to hold the G-7 Summit at his Trump National Doral Miami golf club.

Trump had received harsh criticism for the selection violating the constitution’s domestic and foreign emolument clauses.

Tony Schwartz, who co-wrote The Art of the Deal with Trump, said the announcement was a sign Trump is feeling threatened.

Continue Reading
 
 
Help Raw Story Uncover Injustice. Join Raw Story Investigates for $1 and go ad-free.
close-image