Report says fund faces ‘urgent threat’ unless Congress acts quickly
“The 11 million people who receive Social Security disability face steep benefit cuts next year unless Congress acts, the government said Wednesday.
“The trustees who oversee Social Security said the disability trust fund will run out of money in late 2016, right in the middle of a presidential campaign. That would trigger an automatic 19 percent cut in benefits. The average monthly benefit is $1,017.
“The report said the fund faces “an urgent threat” that requires prompt action by Congress.
“There is an easy fix available: Congress could shift tax revenue from Social Security’s much larger retirement fund, as it has before.
“President Barack Obama supports the move. But Republicans say they want changes in the program to reduce fraud and encourage disabled workers to re-enter the workforce.”