{"id":11034,"date":"2011-08-24T14:18:37","date_gmt":"2011-08-24T18:18:37","guid":{"rendered":"http:\/\/cfif.org\/v\/freedom_line_blog\/?p=11034"},"modified":"2011-08-24T16:38:07","modified_gmt":"2011-08-24T20:38:07","slug":"social-security-disability-insurance-going-bankrupt-too","status":"publish","type":"post","link":"https:\/\/cfif.org\/v\/freedom_line_blog\/11034\/social-security-disability-insurance-going-bankrupt-too\/","title":{"rendered":"Social Security Disability Insurance Going Bankrupt Too"},"content":{"rendered":"<p>Recently, <a href=\"http:\/\/cfif.org\/v\/index.php\/commentary\/43\/1102-liberals-cant-tell-the-truth-about-social-security-funding-\" target=\"_blank\">I wrote<\/a> about the Social Security Trust Fund being a piggy bank for other federal spending programs.\u00a0 In return, federal spenders put worthless IOUs back in piggy with an implied promise to pay back the debt with higher taxes in future years.<\/p>\n<p>Now, there is word that Social Security Disability Insurance \u2013 yet another expense drawn from the empty retirement Trust Fund \u2013 will go bankrupt by 2017.\u00a0 The reason for the rapid insolvency of disability insurance is simple: eligibility for disability can begin before reaching retirement age.\u00a0 Per the <a href=\"http:\/\/www.csmonitor.com\/Business\/Latest-News-Wires\/2011\/0822\/Social-Security-disability-program-running-out-of-funds \" target=\"_blank\"><em>Associated Press<\/em><\/a>:<\/p>\n<blockquote><p>Applications are up nearly 50 percent over a decade ago as people with disabilities lose their jobs and can&#8217;t find new ones in an economy that has shed nearly 7 million jobs.<\/p><\/blockquote>\n<p>The more President Obama\u2019s Washington dithers on enacting policies to spur economic growth, the more unemployed people will be forced to find money wherever they can.\u00a0 The vast majority of Americans want to work, but Obama\u2019s job-killing policies just aren\u2019t giving them the chance.<\/p>\n<p>It would be an unnecessary irony if a liberal like Obama presided over an austerity government that not only raised taxes, but also cut services like Social Security that liberals love.\u00a0 Yet that is the path we\u2019re on as a recessed economy lurches from market plunges to debt downgrades to a contracting job market.<\/p>\n<p>We need an \u201copportunity president,\u201d and this one surely isn\u2019t it.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Recently, I wrote about the Social Security Trust Fund being a piggy bank for other federal spending programs.\u00a0 In return, federal spenders put worthless IOUs back in piggy with an implied promise to pay back the debt with higher taxes in future years. Now, there is word that Social Security Disability Insurance \u2013 yet another [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1606,143,2989,19,1541,27,739,82,461,2988],"class_list":["post-11034","post","type-post","status-publish","format-standard","hentry","category-posts","tag-austerity","tag-barack-obama","tag-disability","tag-economy","tag-growth","tag-jobs","tag-liberal","tag-recession","tag-social-security","tag-trust-fund"],"_links":{"self":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/11034","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/comments?post=11034"}],"version-history":[{"count":7,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/11034\/revisions"}],"predecessor-version":[{"id":11040,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/11034\/revisions\/11040"}],"wp:attachment":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/media?parent=11034"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/categories?post=11034"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/tags?post=11034"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}