Tucson Social Security Disability Blog

The Pandemic Threatens Social Security Funding

Posted by John Kuhnlein | Jul 09, 2020 | 0 Comments

You can add another victim to the Covid-19 pandemic: the Social Security trust funds. In case you don't know, Social Security funds its programs through payroll deductions. The taxes collected this way are supposed to go into a trust fund that pays benefits to Social Security recipients. The trust funds do not exist, as a practical matter. The government spends Social Security taxes as soon as they come in.  

No Trust In The Trust Funds

Had the government really taken the Social Security taxes and set them aside, all of the Social Security programs, including disability, would likely have been set in perpetuity. But, asking politicians to not spend tax money is just too much. The Social Security trust funds, therefore, have various dates at which they will run

Brother, Can You Spare A Trillion?

out of money. When that happens, Social Security will be unable to pay all that they owe to beneficiaries.

A New Report Suggests A Scary Future

Before the pandemic, Social Security estimated that they would be able to pay full benefits through 2035.  Social Security believed they could cover disability benefits through 2065. But, a new report from the Social Security Trustees warns that these estimates may be too optimistic. If the pandemic forces workers off of payrolls for an extended period, the resulting drop in Social Security taxes could devastate the trust fund.

Go Broke 18 Months From Now?

Per the Social Security trustees, if Covid-19 kicks off a long and sustained recession, Social Security would be unable to pay full retirement benefits as of 2029. The effect on Social Security disability is even direr. That program could run out of money by 2022. Yes, 18 months from now.

Congress To The Rescue? Now, That's Funny

Unfortunately, the solution to Social Security going broke must come from the most partisan and dysfunctional Congress in recent memory. These people can't

We Are The Congress And We Will Make It Worse

agree on naming Post Offices, but they must somehow fix Social Security's imperiled funding. I suspect they will get it done, but only at the very last minute and in the worst possible way.

Vote For Your Future

Keep this in mind as you prepare to vote this fall. You can contemplate, for example, how the trillions of dollars the Trump administration gave away to the rich with their tax cuts could have ensured that the old and disabled in this country continued to receive their benefits.

About the Author

John Kuhnlein

Since 1992, I have been helping the people of Southern Arizona get the benefits they are due. Before devoting all my efforts to assisting people with Social Security disability claims, I also handled such complex lawsuits as medical malpractice and products liability. I brought to my Social Security cases all the skills and attention to detail that I developed in the courtroom. I approach each Social Security disability case as if it were a million-dollar lawsuit. For the people trying to get Social Security benefits, their claim is every bit as important. Because I have personally handled so many Social Security cases, I have refined the skills I need to win your case for you. I have helped people win cases for every kind of ailment from arthritis to valley fever. At present, I am focused on helping those persons with neurological and orthopedic disorders. Because claims for people over age fifty bring additional complications, I particularly seek out those cases to work on. I regularly write about back and spine conditions on my blog. I actively seek out the latest information about orthopedic and neurological disorders to ensure I can represent my clients as effectively as possible. Because of my current focus, I regret that I am not able to take any cases for mental disorders. If you are over age fifty and suffer from any orthopedic or neurological disorder, please contact me at once.

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John Kuhnlein has been assisting people with Social Security disability claims for the past 20 years.

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Feel free to call with any questions or concerns you have about Social Security disability. I never charge for a consultation. In fact, there is no charge at all until we win your case. Unlike most lawyers, I never charge extra for things like telephone calls or making copies.