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How to Reform Social Security Disability So Program Focuses on Needs of Disabled Americans
….In order to address the Disability Insurance funding shortfall, Congress should reform the current program. Because of congressional delay, program savings implemented in 2016 likely won’t suffice to ward off indiscriminate benefit cuts scheduled under current law. Congress could grant Disability Insurance short-term borrowing authority to prevent indiscriminate benefit cuts in the context of program reforms to allow savings to take effect. However, some, including the Obama administration, are advocating transferring funds from Social Security’s retirement program to the tune of $330 billion over five years, without meaningful program reforms. Social Security’s retirement program is an easy target because it has more money on paper now—but it faces a 75-year shortfall 10 times as large as the Disability program. Read More…
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