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Shortfall in SSD funds expected to grow in 2017

According to the Congressional Budget Office’s 2011 Long-Term Projections for Social Security report, the shortfall in Social Security Disability Insurance will experience growth beginning in 2017.  Disability Insurance payments are predicted to account for about 18 percent of the Social Security Administration’s payments in 2011.

“As more members of the baby-boom generation (that is, people born between 1946 and 1964) enter retirement, outlays will increase relative to the size of the economy, whereas tax revenues will remain at an almost constant share of the economy.  As a result, the shortfall (in the Disability Insurance (DI)) fund will begin to grow around 2017,” states the report.

Furthermore, officials involved in creating the report hope that their findings will convince members of Congress to avoid cutting funding to the SSA.  They predict that the issue will not be addressed until around 5 years in the future if and when the problem becomes more serious.

Contact the Denver Social Security Disability attorneys of Hull & Zimmerman, P.C. at 866-385-3505, if you or someone you love needs assistance filing for or appealing for disability benefits from the Social Security Administration.


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