Skip to main content

SOCIAL SECURITY IS SECURE IN 2025

 "Loose lips sink ships."  A few of you may remember that warning from World War II.

I see much concern in 2025 about the future of the Social Security program.  Many people are afraid that their benefits are immediately in jeopardy.  They are not.

Social Security continues to provide benefits through the terms of one president, then another, then another--without fail.  Presidents come and presidents go, but Social Security remains.

The important financial lifeline for millions of elderly and disabled Americans was established in 1935 by President Franklin D. Roosevelt as part of his New Deal.  Since then, no entitled beneficiary has ever missed a payment.

Are there issues that will affect Social Security in the future?  Yes, of course.  In the last decade or so, the Social Security Administration has been paying out more money than it takes in.  Thus, it is paying benefits out of its reserves.  Those reserves will eventually run low, some experts say by 2035.  If that happen, Social Security benefits will NOT abruptly stop.  But changes would then have to be made in payments.  Most likely benefits could then be reduced in some amount.  But that won't happen for another 10 years, which is both a long way off and coming up soon--depending on how you look at it.

Are these cuts around 2035 certain and unavoidable?  No they are not.  Congress can take any number of steps to avoid cuts to Social Security. I don't know anyone who believes that Congress will simply let benefits run try.  

There are half a dozen solutions that Congress could take, now or in future, to prevent insolvency of the Social Security trust funds.  It's a sensitive issue with voters and members of Congress have been very timid in taking action  But sooner or later they will.  

In any event, there is no immediate concern about whether you will continue to receive your benefits.  You will.  Rumors that this president or that president, this party or the other party are going to end or cut Social Security is nothing but fearmongering--much of it intentional, designed to help one political party or damage the other one.  Most of these rumors are nonsense.

Labels:

Comments

Post a Comment

Popular posts from this blog

RED FLAGS IN SOCIAL SECURITY DISABILITY CASES

  RED FLAGS IN A SOCIAL SECURITY DISABILITY CASE A red flag is something that causes concern or raises a problem in a Social Security disability case.   In short, it’s something that may get the claim denied or cause a big problem. Here are some of the red flags that we see crop up: ·          Work after the alleged onset date (AOD).   Since the process takes so long, many claimants feel that they are forced to return to work for income.   Social Security often sees this as a sign that the claimant is not disabled. ·          Severe substance abuse.   Chronic and frequent abuse of drugs or alcohol can pose problems. ·           A skimpy work record.   A claimant who has worked very little or has jumped from job to job frequently may not have good credibility. ·          Quitting wo...
Post a Comment
Read more

WHAT YOU WILL BE ASKED AT A DISABILITY HEARING

Most Social Security disability claims will be denied twice:  First at the end of the Application process, and again after the "Reconsideration" process.  The third stop will be a hearing before a federal Administrative Law Judge (ALJ). It is here at the hearing level that most SSDI claims are paid.  So, what do you need to know about your Social Security disability hearing?     First, the judge will follow the rules established by the Social Security Administration.  His or her job is to determine whether you meet the particular laws and rules to receive disability payments.  So, it is a legal proceeding where you must prove certain things in order to get paid. Among the things you must prove:  Your insured status with Social Security:  You have worked recently enough and paid into the Social Security trust fund to gain the required "work credits" to support your claim.  You have a severe medical or mental impairment supported by adequa...
Post a Comment
Read more

HOW TO COMPLETE A FUNCTION REPORT OR ACTIVITIES OF DAILY LIVING FORM

After you apply for Social Security Disability (SSDI), you will be sent a FUNCTION REPORT to fill out and return.  This form asks a lot of very detailed questions about your daily activities:  driving, cooking, cleaning, dressing, visiting others, hobbies, etc. The Social Security Administration will use your answers to determine whether you can work or not.  You must show on this Function Report that you have limitations that do not permit you to work a full-time job.  You do this by showing your limitations in activities of daily living. Your goal in the Function Report is to show the struggles and challenges you have with everyday life.  It may not be sufficient to answer a question with "Yes" and fail to explain. For example:  "Can you drive?"  If you answer "Yes," Social Security will assume that your ability to drive is unlimited:  you can drive anytime, anywhere and as often or as far as you want.  That may not be true and would need t...
Post a Comment
Read more