Okay thanks... I missed the link.
Here's what that told me:
Quote:
Social Security has two components, the disability insurance program and the much larger Old Age and Survivors Insurance program, for which almost all Americans become fully eligible when they reach retirement age. Congress has historically treated them as one system, moving money between one pot and the other if one is running short on funds and the other has plenty of money.
That's the situation now, as the disability pot is expected to be empty late next year. There is enough money in the larger pot to last until 2034, or to keep both programs solvent through 2033, according to the Social Security Administration.
|
So it's not a matter of cutting funds, it's that the funds have been used up...not enough taxes collected for the number of recipients. The requirements were reduced in 1984 so that it was "easier" to become a recipient...one of Reagan's moves.
Or is it? They have funds through 2033--if they continue to wash them across and back and forth... so if this is a real issue, I wonder why the democrat congress did nothing all those years they were in power under Obama...and now the Republicans are taking the hit. (Oh yeah, I know, because it requires a tax increase and no Democrat wants to be accused of that!)
I don't think there's anything to fear... yes Congress has control of the general purse strings, but with the way no one is bothering with the Constitution these days, Obama might sign something into law on his way out, don't you think, and let the rest of the working Americans foot the interest bill with China (which is where he'd have to get the money for such I think---IDK).