Life of Social Security cut by three years
According to Social Security trustees, the financial lifespan of Social Security has been shorted by three years and is now expected to dry up by 2033. The trustees say the Social Security trust fund has been cut due to high energy costs and a slow economy.
A record 5.4 million people have been awarded Social Security Disability Insurance since 2008. An increasing population receiving disability benefits means trouble for Medicare since they can apply for Medicare after two years. Medicare is expected to run out in 2024.
In the first four months of 2012, nearly 539,000 have been awarded SSDI while an additional 725,000 have submitted applications.
If you need help applying for disability benefits, contact the Social Security Disability Insurance lawyers of Hankey Marks & Crider at (317) 634-8565 today.
Written by Ashley Marks