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Social Security Disability Insurance: Insolvent?
Posted in: Social Security Disability on August 10th, 2011

social_securityIt’s likely that you’ve heard about the troubles plaguing social security, either from the news or around the water cooler.  People have been saying that social security and its programs like Social Security Disability Insurance are dangerously financially insolvent for years, now – basically, this means that the programs might run out of money, which could cause all sorts of programs for the individuals that rely on either Social Security Disability Insurance or Supplemental Security Income to run their daily lives.

Why Are There Problems?

The problems inherent with Social Security Disability Insurance are the same as those that plague the traditional social security program – now that the baby boomer generation is started to reach retirement, more and more people are beginning to pull at the resources.  And due to the fact that most people are having fewer children in modern times as compared to in the 1950s and 1960s, there are fewer people working to put money into the pool.

Some of the most dire predictions say that Social Security Disability Insurance in particular might run out of money as soon as 2027.  The outgoing funds have exceeded the incoming funds since 2005 – which is scary news to those who need this money.  Experts are still figuring out how to solve this problem alongside the growing deficit and the troubles the government has had recently with balancing the budget – but only time will tell what the effective solutions are or how to best implement them.

 

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