Yet another metric showing more government dependence and less self-reliance.
(CNSNews.com) – The number of workers taking federal disability insurance payments hit yet another record in July, increasing to 8,753,935 during the month from the previous record of 8,733,461 set in June, according to newly released data from the Social Security Administration.
The 8,753,935 workers who took federal disability insurance payments in July exceeded the population of 39 of the 50 states. Only 11 states—California, Texas, New York, Florida, Illinois, Pennsylvania, Ohio, Michigan, Georgia, North Carolina and New Jersey—had more people in them than the number of workers on the federal disability insurance rolls in July.
Virginia, the twelfth most-populous state, had 8,096,604 people in 2011, according to the latest Census Bureau estimate. That would make Virginia’s population about 657,331 less than the number of workers who took federal disability insurance payments in July.
The ratio of workers collecting disability to the number of workers paying for it with taxes was 1:65 back in 1967. As of June, that number is down to 1:16. What’s more, the Social Security System’s Disability Insurance Trust Fund is in deficit and has been for the last three years, meaning the government must borrow money (adding to the national debt) in order to pay out benefits.
This is what’s wrong with our government. The politicians, long ago, created enormous entitlement programs to be paid for by later generations. Well the bill for these programs is coming due, and we don’t have the money to pay for them.
But hey, let’s just tax the rich or something, right?