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Disabled Nation

March 27th, 2013 - 5:44 am

The headline alone from this Washington Examiner editorial is worth clipping and showing you here.

Yet another program brought to you by, and endlessly expanded by, the same people who love to lecture you about sustainability. But the hard numbers are the really scary part:

What happens to the workers who drop out of the labor force? Some retire, some become full-time parents, some go on welfare. But here’s an important answer that is often overlooked: In 2011, on average, one net person has been added to Social Security’s Disability Insurance rolls (and 3.3 to its retirement program) for every five net new jobs created. Since 1970, the number receiving DI has grown sixfold (from 1.4 million to 8.8 million), and the program expenses have grown tenfold, which is unsustainable. The federal government now spends more on disability than food stamps and welfare combined. In 2009, DI began paying out more in benefits than it took in from payroll taxes. By 2016, it is set to run out of money.

Like the rest of us.

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I never expected to get Social Security. But now I'm just hoping I get to keep my IRA.

Generation Screwed.
1 year ago
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