Social Security Turns 80... Its Days May Be Numbered

By Lowell Ponte

Today Social Security and its related benefit programs, Medicare and Medicaid, are running short of money – and are in real trouble. Social Security Disability Insurance (SSDI) is expected to run out of money in 2016.  President Obama's administration relaxed its qualifications, and SSDI beneficiaries increased by 50 percent, to more than 10 million. This is almost as many as have full-time jobs in all of manufacturing. Social Security was supposed to keep Americans safe from old age poverty – but Social Security, Medicaid and Medicare are rapidly running out of money.  Its rising taxes on younger workers might soon drive them into poverty and leave millions unable to retire. [more...]