Dugan & Associates, P.C.
No Recovery - No FeeFree Consultation
Serving all of Western Pennsylvania
Local: 412-353-3572 Toll Free: 888-99-D-U-G-A-N Toll Free: 888-99-D-U-G-A-N

Social Security Disability funds may run dry by 2017

Many people in Pennsylvania rely on the disability benefits they receive each month. However, according to new congressional estimates, the Social Security disability benefits fund is expected to run out of money by 2017. In the two decades following that, Social Security's retirement fund is also predicted to run dry.

Social Security celebrated its 75th birthday last year, and the 2010 financial report card noted that it was the first time since 1983 that the program would give out more in benefits than it would receive in taxes.

The Great Recession and aging baby boomers have placed increasing amounts of stress on the disability program, with laid-off workers and the elderly relying heavily on the program. In the past decade, unemployment applications have increased by almost 50 percent because of the strained economy and the loss of nearly 7 million jobs.

In a faltering economy with a stagnant job market, many people with disabilities have lost their jobs. In a response that is only natural, many of those people are likely filing for Social Security disability benefits because they need the financial support to live.

According to the executive director of the Concord Coalition, too many politicians are focused on the short-term, like the long waiting period after applying for Social Security. He says that the Social Security system needs to be revamped to be a sustainable system, not a benefits system in constant need of money infusions.

In 2011, it is projected that about 3.3 million people will apply for federal disability benefits. That's an increase of 1 million in the past decade. In tough economic times, it is even more difficult for those with disabilities to find jobs after being laid off. Disability also becomes more prevalent in old age, and many people choose to apply for disability rather than wait for the ever-climbing retirement age.

Source: The Fiscal Times, "Social Security Disability Payments in Peril by 2017," 21 Aug. 2011

No Comments

Leave a comment
Comment Information

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Pittsburgh Office
4 West Manilla Avenue
Pittsburgh, PA 15220

Phone: 412-353-3572
Phone: 412-922-0800
Pittsburgh Law Office Map

Beaver County Office
2002 McMinn St.
Aliquippa, PA 15001

Phone: 412-353-3572
Phone: 724-775-7372
Aliquippa Law Office Map

North Hills
6400 Brooktree Ct.
Wexford, PA 15090

Phone: 412-353-3572
Phone: 724-933-0133
Wexford Law Office Map

Butler County
2009 Mackenzie Way
Suite 100
Cranberry Twp, PA 16066

Phone: 412-353-3572
Phone: 724-283-7063
Cranberry Twp Law Office Map

400 Penn Center Blvd.
Suite 101
Monroeville, PA 15232

Phone: 412-353-3572
Phone: 412-261-1129

Westmoreland County
101 N. Main St.
Suite 104 - A
Greensburg, PA 15601

Phone: 412-353-3572
Phone: 724-836-7454

Washington County
2400 Ansys Dr.
Suite 102
Canonsburg, PA 15317

Phone: 412-353-3572
Phone: 724-743-0463
Canonsburg Law Office Map

Serving all of Western Pennsylvania Free Consultation