January 4th, 2013|
January 4, 2012
The Social Security Administration (SSA) recently announced that in 2012, the number of individuals who receive Social Security Disability Benefits hit an all-time high. According to NewsMax, an estimated 8.82 million Americans, including disabled workers and their dependent family members, received benefits last year alone. This means that for every 1.67 people who are employed in the private sector, there is one person who is collecting Social Security Disability benefits.
The Social Security program was only able to bring in a total of $725.4 billion in revenue last year, though, and considering the program paid out $773.2 billion in benefits to recipients, the country was left with a $47.8 billion deficit for the last year.
The growth in the number of claimants and those receiving Social Security Disability benefits has been attributed to a poor economy. Experts say that historically, when the economy is bad, the number of individuals who claim they are unable to work rises.
The program’s debt has forced the system to the brink of collapse. The Social Security Disability Lawyers with Fleschner, stark, Tanoos & Newlin recognize that factors such as a high number of claims and the program’s debt could add to the difficulty of having a claim approved. That is why the firm suggests discussing your case with an attorney if you have a claim you are preparing to file or have a claim that has been denied in the past.