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Wednesday, June 25, 2014

The First Social Program Bankruptcy is Upon Us

The Hon. David Langham 
The network of social insurance programs is tightly integrated in the United States. The economic integrity of Social Security may have tremendous impact on workers' compensation programs. Today's guest post is by The Hon. David Langham who is the Deputy Chief Judge of Compensation Claims for the Florida Office of Judges of Compensation Claims and Division of Administrative Hearings

In May, the Fiscal Times reported that Social Security Disability is in financial trouble. Hardly news, that has been heard for years and has been either ignored or given lip service. No real solutions have been brought to the table. Unfortunately, in America issues with disability programs like Social Security and workers' compensation tend to get attention when there is a crisis.

What is news is that the sky is perhaps falling more rapidly than they predicted. The Fiscal Times says that the SSDI cash flow will run dry in 2016. Their prediction leads to the conclusion that this is no longer a problem that can be kicked down the road to the next group of elected representatives. The insolvency will either be dealt with or the repercussions felt in the next Congress.

According to the Fiscal Times in May 2014, eleven million Americans are receiving Social Security Disability (SSDI). According to the U.S. population is about 318 million, so about three percent of the population is receiving SSDI.

The average SSDI recipient is drawing...
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