Disability Has Become A Long-Term Jobless Benefit Program

[Geee]

Investors Business Daily:

The latest annual report of the Social Security Board of Trustees projects that the Disability Insurance (DI) portion of the program will run out of funds to pay promised benefits by 2016, or possibly even 2015. That's because of a 22% increase in disability dependents on the program to 2 million since 2008.

 

America has not suddenly become subject to a rash of disability since 2008. Disability insurance has effectively become a long-term unemployment assistance program enabled by the Obama administration's abandonment of rational qualification standards.

 

The root of the problem is that DI is a government program governed by political pressures, rather than an insurance program governed by free-market competition.

 

The government bureaucrats running DI do not have their own money at risk, and have nothing to gain from running it efficiently to minimize costs. They are subject instead to the political pressures of record long-term unemployment and millions running out of unemployment benefits, seeking new means of public support.