With Disability Benefits Running on Fumes, What to Do?
Few Americans know that the tax they pay to finance Social Security gets split into two unequal parts. The larger part goes to a trust fund that supports pensions for retirees and survivors. The smaller part goes into another trust fund that finances benefits for the disabled. Usually they have no reason to care about such technicalities. That is about to change because the trust fund that supports benefits for the disabled is set to run out of money at the end of 2016. If Congress were to do nothing, benefits for just over 11 million people eligible for disability benefits would have to be cut 20 percent. The fact that those cuts would hit just about when voters go to the polls to elect the next president and a new Congress is of more than passing relevance…Read More
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