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Social Security Disability

Social Security Disability – A Look at Reconsideration

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Social Security Disability

IF I OWN MY OWN BUSINESS AND HAVE A DISABLING CONDITION THAT PREVENTS ME FROM TECHNICALLY "DOING WORK" WITHIN MY BUSINESS, AM I ELIGIBLE FOR RECEIVING SOCIAL SECURITY DISABILITY BENEFITS?

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Best Source of Up-to-Date news on workers' compensation and disability in New York

Recession drives Social Security disability claims up by 20 percent

Posted on Sep 30, 2009

Social Security disability claims are up by 20 percent from the same period last year, straining a system that was already becoming overburdened by an uptick in claims.

The sour economy is again shouldering the blame for the rise in SSD claims, as more people who qualify – or hope they qualify – for disability payments are turning to the Social Security program for help during these lean times. Unable to find jobs, people are desperate for help.

This is all taking a toll on the Social Security Administration (SSA). For the first time since Ronald Regan was in office, the SSA will pay out more in benefits than it will collect in taxes. In 2010 the difference between what is going out versus what is coming in is $10 billion and in 2011 it will be $9 billion.

This disparity won’t have an immediate effect on the SSA. The agency has a surplus of about $2.5 trillion so it can weather this storm. The federal deficit, however, will reflect this change, and is currently hovering around $1.58 trillion.

Deficits will plague the SSA benefits system on and off over the coming years unless Congress takes action to fix the program. Without intervention, the SSA surplus will eventually become a deficit, and some day there may not be enough money for disabled Americans to make ends meet.