TV News LIES

Tuesday, Aug 09th

Last update05:43:20 AM GMT

You are here News Economy Social Security Disability Fund Will Run Dry Next Year

Social Security Disability Fund Will Run Dry Next Year

E-mail Print PDF

SS funds to run outThe 11 million Americans who receive Social Security disability face steep benefit cuts next year, the government said Wednesday, handing lawmakers a fiscal and political crisis in the middle of a presidential campaign.

The trustees who oversee Social Security and Medicare said the disability trust fund will run out of money in late 2016. That would trigger an automatic 19 percent cut in benefits, unless Congress acts.

The average monthly benefit for disabled workers and their families is $1,017. The typical beneficiary would see a reduction of $193 a month.

"Today's report shows that we must seek meaningful, in some instances even urgent, changes to ensure the program is on stable ground for future generations," said Jo Ann Jenkins, the chief executive officer of AARP.

More...


Most Recent Related Stories...


US Employers Add 528,000 Jobs, Defy Recession Fears

528K jobs added in July 2022Defying anxiety about a possible recession and raging inflation, America’s employers added a stunning 528,000 jobs...

Drug company AbbVie used Trump tax law to shield profits, Senate report finds

AbbVie used Trump tax laws to hide profits Pharmaceutical giant AbbVie generates almost all of its sales in the United States but has allegedly...

Fed hikes interest rates another 75 basis points as recession warnings flash

Federal ReserveThe Federal Reserve announced another steep interest rate hike Wednesday, ramping up its efforts to bring...

Netflix lays off 300 employees in second round of mass job cuts

Netflix lays off 300 Netflix has laid off 300 employees in a second round of layoffs after letting go 150...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!