Uh, Oh. North Carolina Social Security Disability on the Verge of Vanishing?

August 29, 2011, by Michael A. DeMayo

On August 27, an AP article about the near insolvency of the Social Security Disability program raised red flags among policy analysts and beneficiaries who study (and rely on) the North Carolina Social Security Disability system.

The AP article reports that the graying of the baby boomer generation – coupled with the increase in unemployment nationwide – may be pushing the SSD program to the brink of financial collapse. “Applications (for SSD) are up nearly 50% over a decade ago as people with disabilities lose their jobs and can’t find new ones in an economy that has shed nearly 7 million jobs. The stampede for benefits is adding to a growing backlog of applicants…and worsening the financial problems for a program that’s been running in the red for years.”

SSD will run out of cash by 2017 unless Congress steps in. Two decades after that, the entire social security fund will dry up as well.

With over nearly 3.5 million people this year projected to apply for some kind of federal disability benefits, you and your family are likely feeling a bit of panic about whether you will be able to obtain needed North Carolina Social Security Disability funds to pay for things like your rent, utilities, medical care, therapy, and other living expenses.

It’s a difficult and scary time, and easy solutions aren’t forthcoming. Indeed, for every article that blames problems like SSD insolvency on bad fiscal policy, you can find another article blaming the problem on something totally different. The Republicans are to blame. No, the Democrats are to blame. No, the American people are to blame. No, Europe is to blame. Etc., etc., ad nauseum.

In this frustrating, raucous environment – where a point is responded to with a counterpoint, and millions of beneficiaries have trouble keeping score, let alone understanding the deep tactical, strategic, and technical implications for their recovery – what can you do?

You face real and urgent monetary problems, medical crises, emotional/personal struggles, possible family issues, and long- term challenges. This may seem overwhelming. But first of all, recognize that you are not in this alone. It’s easy to blame yourself for your current financial, physical, budget, or work problems. But that kind of self-flagellation is not resourceful or, probably, accurate. Instead, it might be wise to assess your objective, on-the-ground reality now – what’s true for you, your family, your health, and your finances – and find resources to help you make the best of your situation.

A great resource is a North Carolina Social Security Disability law firm. Good attorneys can help you objectively analyze your needs and come up with a blueprint to move forward.

More Web Resources:

“Applications (for SSD) are up nearly 50% over a decade ago”


What is true for you NOW?

 
 

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