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Understanding Social Security
A recent “60 Minutes” report suggested the Social Security disability program is in financial trouble and will soon run out of money to pay benefits. It is true the Disability Insurance Trust Fund is projected to be fully funded only until 2016, after which tax revenues paid into the fund would cover about 80% of scheduled benefits. In the past, Congress has on 11 occasions reallocated funds from the Old-Age & Survivors Insurance trust fund to the DITF to cover projected shortfalls. Read more…
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