Debt Debate Has Real and Direct Impact on North Carolina Social Security Disability

July 11, 2011, by Michael A. DeMayo

Will North Carolina Social Security Disability go the way of the dodo, if President Obama and the U.S. Congress fail to get their acts together regarding the debt limit?

Perhaps…but not likely.

According to official government statistics, approximately 70 million Americans – many of them North Carolinians – receive government benefits, such as veterans checks, disability payments, and social security, every month. President Obama warned that many of these benefits may be cut off on August 2nd if Congressional leaders and the President fail to strike a deal to raise the debt limit once again. In an interview with CBS News, President Obama wryly noted: “There may simply not be the money in the coffers to do it.”

Unless the doomsday-sayers are correct, chances are that the government will cave and raise the debt limit and avert catastrophe. So North Carolina Social Security Disability beneficiaries will continue to be able to collect their checks. But the imminent catastrophe is not what worries most serious analysts. Policy wonks are far more concerned about the long-term viability of programs like Social Security Disability.

With the baby boomer generation of Americans “graying” and unemployment numbers and other economic indicators suggesting that we might be mired in a long-term economically problematic environment, beneficiaries might expect some benefit cuts, at a time and place to be decided. And that’s what’s perhaps most disturbing – no one is sure exactly when or how the hammer blow will fall and what will follow. To protect yourself, educate yourself about your rights and responsibilities by connecting with a high caliber North Carolina Social Security Disability firm.

More Web Resources:

“There may simply not be the money in the coffers to do it”

70 million Americans receive government benefits… or more??