February 11, 2013
A recent report from the Congressional Budget Office states that the nation’s Social Security program is in trouble. According to the Fort Bragg Patch, the new report shows the program’s spending will double over the next year, while less funding is being received from workers.
Figures indicate the system is bleeding funding faster than previously expected, with experts expecting Social Security trust funds to peak two years earlier. This means there will be $140 billion less in the program in 2022 than was predicted this time last year.
The problem is complicated by more claims being filed for Social Security Disability benefits, a program that awards funds to those who are unable to work due to medical conditions. Data shows the number of citizens in the work force filing for these benefits has steadily increased over the past two decades and there is no sign of the number going back down. This creates a situation where less money is going into the Social Security system than is going out, which will lead to a collapse eventually.
The SSD Attorneys with Fleschner, Stark, Tanoos & Newlin are aware these budgetary constraints could make it more difficult for an individual to receive an approval for a claim of Social Security disability benefits and suggest that anyone who is preparing to file a claim or who has a claim that was denied in the past to discuss their options with an attorney.
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