Alexandria VA— Our Generation released an educational paper today showing that the Social Security Disability Program (SSDI) is on an unsustainable path and in dire need of reform.
The SSDI program was established in 1956 and was established to provide monetary benefits to Americans prevented from working as a result of metal or physical disabilities. The paper finds that the program is failing and recommends reforms.
MacMillin Slobodien, Executive Director of Our Generation said, “Despite its humble beginnings as an insurance plan for long-tenured workers with the misfortune of becoming disabled before retirement, SSDI has ballooned into a $151 billion program rife with waste, fraud and abuse. This program is in need of reforms right now. Congress needs to take a look this year at this program to see if it can be saved.”
Findings of the report include:
- Enrollment in the program spiked in 1984 when SSDI eligibility policies were relaxed;
- In FY2015, the federal government will collect $116 billion in Social Security taxes for program while spending $151 billion leaving a $35 billion deficit this year in the program;
- Approximately 9 million disabled workers and 2 million spouses and children per month receive benefits;
- According to the Social Security Administration, the program is expected to become functionally bankrupt in late 2016; and
- Reforms are necessary now to rid the program of waste while providing for those in dire need of help.
You can read the report here.