Many of our Los Angeles, California, readers that receive Social Security Disability benefits have likely heard the rumblings about Social Security Disability funding. If not, the short version is this: many of our national leaders believe that the Social Security Disability fund will hit a major crisis level in the next year or so.
A recent report pointed out that this is still the case, and little has been done to address these financial concerns. Of course, the recent article pointed out that for several years now the federal government has seemed to govern in a “crisis-to-crisis” type of mode. In “crisis mode,” if a crisis is not immediate, it will likely be pushed to the back burner.
Nonetheless, the prevailing thought among both political parties is that something will need to be done to address the Social Security fund, sooner rather than later. If nothing is done, the recent report noted that current projections show that Social Security Disability benefits may drop to about 81 percent of current levels. Pointing out the obvious to most people, the article noted that such a decrease in benefits would likely be disastrous for the millions of Americans who depend greatly on their monthly Social Security Disability benefits.
Will our national leaders allow Social Security Disability benefits to go through this automatic and disastrous reduction? Only time will tell. But, there is likely to be one major event that will probably have the greatest impact on what ultimately ends up happening: the 2016 presidential election.
Source: CNBC, “The Social Security disability fund is disabled,” Phil Moeller, Sept. 7, 2015