Washington Post: US disability rolls swell in a bad economy

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Washington Post: US disability rolls swell in a bad economy

Post by kramer » Sat Sep 21, 2013 3:16 pm

Even though Obama is an inexperienced ****, I don't lay the bulk of the blame for this crap economy on him. I blame it on Clinton and the Republican congress who signed PNTR in 2000.
U.S. disability rolls swell in a rough economy
By Michael A. Fletcher, Published: September 20

. . .
The fast expansion of disability here is part of a national trend that has seen the number of former workers receiving benefits soar from just over 5 million to 8.8 million between 2000 and 2012. An additional 2.1 million dependent children and spouses also receive benefits.

The crush of new recipients is putting unsustainable financial pressure on the program. Federal officials project that the program will exhaust its trust fund by 2016 — 20 years before the trust fund that supports Social Security’s old-age benefits is projected to run dry.

The growth of the disability rolls has accelerated since the recession hit in 2007. As the labor market tightened, workers with disabilities that employers previously accommodated on the job — painful hips, mental disorders, weak hearts — were often the first to go. Finding new work often proved difficult, causing many to turn to the disability rolls for support.

http://www.washingtonpost.com/business/ ... print.html
Of course, leave it to the inexperienced **** to find ways to make the economy worse such as finding ways to make oil, gas, and electricity prices skyrocket so that more expensive and intermittent green energy can then become competitive with them meaning our new normal will be much higher energy prices (when the power is on). Add in the Trans Pacific Partnership being drafted in secret and I see another royal screwing of America by our politicians who seem to be working for foreign interests.
Last edited by John Q. Public on Sun Sep 22, 2013 8:49 am, edited 1 time in total.
Reason: added the ****'s
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Re: Washington Post: US disability rolls swell in a bad eco

Post by tLIB » Sun Sep 22, 2013 1:30 am

Hey Kramer, how did Obama do this:
finding ways to make oil, gas, and electricity prices skyrocket
I notice oil is back over $100 again, but I was thinking it was because of demand and the higher cost of fracking. Personally, I was expecting oil to stay below the 100 mark because of the increased supply. I know we still export a lot and maybe global demand drove it up???

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Re: Washington Post: US disability rolls swell in a bad econ

Post by John Q. Public » Sun Sep 22, 2013 9:22 am

The key is in the last paragraph Kramer quoted. A weak job market + baby boomers in their 60s + employers reluctance to hire older workers = a larger number of people opting to ride out their last few working years on disability, even though the money isn't good. Looking at my re-employment options, I'd be tempted to use the back injury that was more serious than I want to admit and do it, myself.
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Re: Washington Post: US disability rolls swell in a bad econ

Post by Wabash » Sun Sep 22, 2013 11:01 am

I'm not surprised. With the emphasis of employees having to rely on 401(k) style investments for their retirement income a prolonging of one's career was inevitable.

This will cause workers to stay in their jobs longer and crowd out younger workers trying to enter the workforce. I just read an article that detailed how many recent college graduates were getting jobs in coffee shops and other types of service industries.

I also predict as those Boomers continue to age, a reliance upon 401(k)'s will inevitably result in a swelling of a senior citizen underclass.
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