Articles Posted in Social Security Solvency

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Gastroparesis is a condition in which the muscles of the stomach wall have become too weakened to contract and force the food from the stomach into the small intestine. Therefore, the stomach does not empty properly. Gastroparesis can be caused by diabetes, Parkinson’s disease, certain medications or drug use, and sometimes the cause is unknown.

Similarly, there is a wide range of adverse effects on patients. Some patients experience nausea and vomiting, some develop bacterial infections from the undigested food, and some can develop blockages from food that cannot move to the small intestine. Additionally, the symptoms can range from mild to severe, varying wildly from day to day. There is no cure, but doctors can prescribe medication to help patients manage their lives.

Medical Eligibility for Gastroparesis

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Baby boomers may be most in need of Social Security payments. However, seniors are likely to find it more and more difficult to apply for disability benefits, or appeal rejected disability claims, because many Social Security offices around the country are facing closure.

The Social Security Administration blames budget crunches and shortage of resources for this increased number of closures. The agency has been closing down a record number of offices. As a result, more and more seniors are being forced to go online to get help for their Social Security benefits claims, instead of walking into an office.

Since 2010, the Social Security Administration has closed down 64 field offices across the country. That is the largest number of such office closures over a five-year period in the agency’s history. The agency has also decided to close down 533 temporary mobile offices that were specifically situated to serve claimants in remote areas.

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Georgia recently became the most gun-friendly state in the country when a piece of legislation became law that allows people to take guns into schools, bars and churches.

Governor Nathan Deal recently signed the bill, officially allowing licensed gun owners in the Peach State to carry their weapons everywhere in the state, except the Capitol Building. So if you enter a church, bar, school, or even Hartsfield-Jackson International Airport, there are likely to be people carrying guns around you. The law, called the Safe Carry Protection Act of 2014, allows people to carry almost everywhere, but also permits local businesses to decide whether they want to allow guns on their property.

The most debated part of this legislation is that which involves guns inside schools. Even if a school decides to choose not to allow guns inside campus, there are likely to be bitter and very acrimonious debates and lawsuits involving the issue of guns in classrooms.

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With all this election-year talk of “victims” and “47 percentages,” many Americans are understandably concerned about the state of Social Security and their continued eligibility for benefits. Last month, the Center on Budget and Policy Priorities, which is a nonpartisan policy group working on policy and public programs that affect Americans in low and moderate income groups, released a report that supported the continuance of Social Security benefits.

In the report, the Central Budget and Policy Priorities says that the Social Security Disability Insurance program provides very vital and important benefits to workers, who have no other way of earning an income after they suffer disabilities or medical impairment.

The Center for Budget and Policy Priorities report takes aim at those critics of Social Security who say that spending on Social Security is out of control. The report clearly speaks out against those allegations, saying that much of the rise in federal disability payments is a result of demographic factors.

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5.29.12.JPGAccording to the 2012 Board of Trustees Report for the Social Security and Medicare Trust Funds, released on April 23, 2012, the funds, though relatively stable, are being impacted by the recession. The 2012 report finds that, if no Congressional action is taken, the Social Security Old Age and Survivors Insurance (OASI) will be able to pay 100% of scheduled benefits until the year 2033. Following that, scheduled benefits would still be paid at a reduced level of about 75% after 2033 using incoming payroll tax revenue. However, the need to shore up the Disability Insurance (DI)Trust fund is much more immediate with exhaustion projected to occur in 2016. Although like the OASI fund, the DI fund would continue to pay 75% of scheduled benefits with incoming payroll tax revenue.

There are two Social Security Trust Funds – The Old Age and Survivors (OASI) Trust Fund and the Disability Insurance (DI) Trust Fund. The Social Security program administers benefits through a social insurance program. It is funded through payroll FICA taxes. The employer and employee each pay 6.2% of earnings (or 4.2% for the 2011-2012 temporary payroll tax holiday for the worker portion) and 1.45% of earnings for health insurance under Medicare Part A up to an income cap of $110,100 a year. The portion of this premium that pays for disability insurance is .9%. The remainder pays for Old Age and Survivors Insurance (OASI). Today 1 in 6 Americans receives Social Security.

News reports that Social Security is soon to be “bankrupt” are misleading. The 2012 Trustees Report found that Social Security is 100% solvent through 2033. In 2011, Social Security had a surplus. Social Security revenue plus interest income was in excess of outgoing payments by $69 billion dollars. Reserves are projected to grow to $3.1 trillion by the end of 2020. After 2033, if Congress takes no action, workers and employer contributions alone will cover 75% of scheduled benefits.