Hi all, When I went looking for an article to provide an update on the SSDI funding emergency, I found this report from the Heritage Foundation: http://www.heritage.org/research/reports/2014/08/social-security-disability- insurance-trust-fund-will-be-exhausted-in-just-two-years-beneficiaries-facin g-nearly-20-percent-cut-in-benefits I've excerpted a summary of the report below; it was written last August. I'm wondering if anyone has any newer information? "...Status of the DI Trust Fund In 2013 the DI program marked its fifth straight year of deficits, with the trust fund declining $32.3 billion (26 percent) from $122.7 billion to $90.4 billion. Each dollar in benefits was met with only 75 cents in payroll tax contributions. According to the Social Security trustees' intermediate projections, the DI program faces a 10-year projected shortfall of $267 billion. In actuarial terms, the 2013 deficit amounted to 0.32 percent of taxable payroll. To keep the DI trust fund solvent over the next 75 years, benefits would need to be cut by almost 20 percent immediately or the DI payroll tax would need to increase 17 percent. As discussed below, the program's history of shortfalls suggests that these estimates may understate the true shortfall. As the DI program continues to pay benefits in excess of contributions, the DI trust fund is projected to be exhausted at the end of 2016. At that point, incoming contributions will be sufficient to cover about 80 percent of benefit payments. Absent legislation to reform the program or reallocate or borrow resources, benefits will be cut across the board when the trust fund runs dry. ... " Chip Orange
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