Noteboom The Law Firm

Find Out the Causes Behind the SSA's Current Money Troubles

It is probably no surprise that Social Security benefits have become much more popular since the economic downturn of the past few years. More people have been applying, and while not everyone who applies is even eligible, the Social Security Administration, or SSA, has had to dole out more money than ever. In fact, according to APP.com, the increase in payments is even higher than in recessions past.

The fiscal 2009 year ended just days ago, and at the close of that year, the SSA paid out 19% more in benefits than before. Obviously, the increase is due to more people out of work, such as older workers who would not normally retire yet but could not find jobs. However, almost one million people began receiving disability benefits for the first time, a number that was at about 900,000 in 2008. The total number of people living off disability is about 3 million.

Although it is certainly good that more people than ever are receiving their rightful benefits, the increase does not bode well for SSA. It will likely not be in the black again until 2012, as in August alone SSA paid $6 billion more in benefits than it received. The near future does not look good for the program, either, as 2009 overall had 8% more applications than officials had expected.

While the issue is unexpected, it is not exactly puzzling to those who know the statistics caused by the current economy. Consider the following likely reasons for increased Social Security applications:

• Baby Boomers who would normally still work for a few more years are retiring early and living off their Social Security benefits
• People who would normally not even consider disability are now dependent on it, if they can qualify
• Reduced workforce equals fewer taxes being paid into the system

The SSA might be struggling right now, but there is hope for the future. If you think you might qualify for disability benefits, contact a qualified lawyer.

If you or your loved one are suffering from a severe physical or mental disability, you should contact a Social Security Disability lawyer immediately to learn about your rights and determine eligibility. The process of securing Social Security Disability Insurance benefits and/or Supplemental Security Income (SSI) can be difficult and overwhelming. Don't go it alone! The disability lawyers at LaVan & Neidenberg, located in Ft. Lauderdale, FL understand the inner workings of the Social Security Administration and will help you navigate the system. Call us today for a FREE legal consultation - 1-888-234-5758.