Another month, another grim milestone in the horrid, horrid Obama Economy.
The number of American workers collecting federal disability insurance benefits hit yet another record high in October, according to the Social Security Administration.
This month 8,803,335 disabled workers are collecting benefits, up from the previous record of 8,786,049 set in September.
We’ve added over 1.3 million people to the disability rolls since February, 2009, an increase of 975 per day. To put that in perspective, we’ve put enough people on this flavor of government dole to populate the city of San Diego, California.
The Lonely Conservative made an excellent observation.
Unlike unemployment benefits, Social Security disability never runs out, so the vast majority of these people will receive benefits for life.
As it happens, that’s mostly true. Social Security disability will start to run out of cash to the point we’ll see very real payout cuts in three years — 2033. That’s three years sooner than the Social Security Board of Trustees predicted last year and it’s due, in large part, to the glut of new people entering the system thanks to the Obama Economy. What do you want to bet that next year’s report from the Trustees will bring that date a couple more years closer to the present?
