Individuals Seeking SSDI Should Not Fear Current Social Security Rhetoric
There is a lot of media coverage of the Social Security debate being waged between GOP presidential candidates. Texas governor and GOP hopeful Rick Perry’s claims that Social Security is a Ponzi scheme and irreparably broken has stimulated debate on the 76-year-old program that provides benefits to the aged and those with disabilities.
Social Security’s opponents liken the program to a pyramid scheme, where people at the bottom — today’s workers — pay into a program that invests their money and pays out to a few people at the top — the elderly and those with disabilities. More inflammatory critics call this stealing; less incendiary ones believe the current situation was not the original intent of the 1935 law, and cite growing labor markets and increased longevity as the source of the problem today.
But the truth is that Social Security is not going anywhere, despite what those with the media’s attention may say. Social Security is one of the most successful — and popular — government programs in the history of our country. It pays out billions of dollars every year to those that are retired or have a disability. Social Security disability lawyers are encouraging their clients to ignore the rhetoric they hear on the television and continue to pursue Social Security disability insurance (SSDI) benefits.
For those currently receiving benefits, there is little to fear. If absolutely nothing is changed, Social Security will likely be able to continue to pay out 100 percent of benefits for the next 25 years, through 2036. After 2036, again if nothing is changed, the SSA will be able to pay out 77 percent of benefits.
Social Security: Not Bankrupt
Social Security is not a bankrupt system. In fact, the Social Security Administration is a solvent, fully funded system. The only reason the rhetoric is even occurring is because the Social Security Administration lent funds to the government, who cannot afford to pay it back. Social Security continues to take in money from current workers. Furthermore, reforms can be made to prevent the federal government from taking advantage of America’s workers in the same manner again.
Current SSDI recipients should rest assured that their benefits will not be discontinued, and those individuals who have been permanently disabled should still pursue benefits through the SSDI program. Even those in the process of, or looking to, appeal an SSDI decision should continue to do so.
Contrary to what one hears in the media about Social Security, the program is still as popular and successful as ever and benefits are not in danger of disappearing. If you have any questions about current or potential SSDI benefit payouts, please contact an experienced social security disability lawyer.
