If you’ve been following the news about Social Security Disability Insurance (SSDI), you’ve probably heard the government say that by the end of 2016, there won’t be enough money in the coffers to pay all disability claims. Experts foresee a 20 percent reduction in budget if Congress doesn’t act fast to address the looming issue.
One way that the analysts think will solve the problem is to transfer money from the Social Security retirement benefits to the SSDI funds. The former is currently fully funded up until 2030, so even if part of the money is shifted, there’s still time to work on another solution, or perhaps perform another fund-shifting activity in the future. The Congress has shifted funds this way before, so they believe the solution is practical.
The downside with the current proposal is that Congress is discussing the possibility of privatizing or cutting the program entirely. If that happens, it could result in the hardship of millions of disabled veterans who depend on SSDI to make ends meet and are unable to find work or take care of their families.
If any of these possibilities happen, know that all is not lost. You can trust a disability lawyer to fight for your rights and help you get the benefits you deserve.