There is no good intention that cannot eventually be corrupted by craven politicians pandering for votes.
Sometimes derided as the "Appalachian retirement system," the Social Security Disability Insurance (SSDI) program was created in 1956 by Republican Dwight Eisenhower, who promised it would be operated "efficiently and effectively" to help "rehabilitate the disabled so that they may return to useful employment." A good intention, indeed!
Here are some factoids about that good intention:
1. It pays out 25% more than it gets in tax revenue.
2. There are over one million pending applications.
3. It is expected to become insolvent next year, in 2016.
4. Eleven million people currently receive SSDI.
5. In 2013, less than 1% left the program to get a job.
6. Since the Great Recession started in 2007, applications have increased 28% per year.
Conclusions are pretty obvious, but there are some interesting causes. One, the mentally-challenged make up an increasing share of the applications, such as autism victims. Two, applicants are getting younger, as the young feel less attached to corporations who readily fire employees and provide no retirement benefits. In other words, the "social contract" that used to exist between employers and employees kept people off SSDI but no longer.
One of my favorite relatives believes there should be a "sunset law" for marriage, i.e., that they should automatically expire after 25 years. It is tempting to suggest such a sunset law for good intentions, but do you think a dysfunction Congress could really make an intelligent decision to revamp this program or any other program? Some things are too important to be entrusted to our elected politicians. How about a "Re-invention Agency" that is separate from Congress, like the Fed?
Of course, that agency itself should also expire after 25 years!
Sometimes derided as the "Appalachian retirement system," the Social Security Disability Insurance (SSDI) program was created in 1956 by Republican Dwight Eisenhower, who promised it would be operated "efficiently and effectively" to help "rehabilitate the disabled so that they may return to useful employment." A good intention, indeed!
Here are some factoids about that good intention:
1. It pays out 25% more than it gets in tax revenue.
2. There are over one million pending applications.
3. It is expected to become insolvent next year, in 2016.
4. Eleven million people currently receive SSDI.
5. In 2013, less than 1% left the program to get a job.
6. Since the Great Recession started in 2007, applications have increased 28% per year.
Conclusions are pretty obvious, but there are some interesting causes. One, the mentally-challenged make up an increasing share of the applications, such as autism victims. Two, applicants are getting younger, as the young feel less attached to corporations who readily fire employees and provide no retirement benefits. In other words, the "social contract" that used to exist between employers and employees kept people off SSDI but no longer.
One of my favorite relatives believes there should be a "sunset law" for marriage, i.e., that they should automatically expire after 25 years. It is tempting to suggest such a sunset law for good intentions, but do you think a dysfunction Congress could really make an intelligent decision to revamp this program or any other program? Some things are too important to be entrusted to our elected politicians. How about a "Re-invention Agency" that is separate from Congress, like the Fed?
Of course, that agency itself should also expire after 25 years!
