People on Disability Payments Hits Record 8.7 Million

Monday, 02 Jul 2012 08:55 PM

By Todd Beamon

  Comment  |
   Contact  |
  Print   |
    A   A  
  Copy Shortlink
More than 8.7 million people took federal disability payments in June — more than the population of New York City, the Social Security Administration reports.

In June, 8,733,461 workers received payments, up from 8,707,185 in May, with an average payment of $1,111.42, cnsnews.com reports.

Both figures exceed the population of New York City —  8,244,910 — according to Census figures.

Editor's Note: Will Obama Be Defeated? Vote Here!

According to CNSNews.com, the 2012 figures continue to illustrate the dramatic shrinkage in the number of American citizens actually employed and earning paychecks over the past 20 years.

In June 1992, for instance, according to the Bureau of Labor Statistics, 118,419,000 people were working in the United States, according to the U.S. Bureau of Labor Statistics – but only 3,334,333 workers were claiming federal disability payments.

That amounted to one person on disability for every 35.5 people actually working.

But when President Barack Obama was inaugurated in January 2009, those employed totaled 142,187,000, while 7,442,377 people were taking federal disability payments – or about 1 person on disability per 19.1 people actually working.

As for the May 2012 figures, 8,707,185 were claiming disability payments compared with 142,287,000 people actually working – or 1 worker on disability for every 16.3 people working.

In addition, 165,469 spouses of disabled workers were taking payments in June, along with 1,899,756 children of disabled workers. That brought the total number of June beneficiaries to 10,798,686.

Editor's Note: Will Obama Be Defeated? Vote Here!

Federal disability insurance is paid for by a 1.8 percent payroll tax split between employers and workers. Those who are self-employed pay the full 1.8 percent.
The Social Security System’s Disability Insurance Trust Fund has run deficits in each of the last three fiscal years, requiring the federal government to borrow money to pay benefits.

In fiscal 2009, the fund had an $8.5 billion deficit, a $20.8 billion deficit in 2010 – and a $25.3 billion deficit in fiscal 2011.



© 2014 Newsmax. All rights reserved.

  Comment  |
   Contact  |
  Print   |
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Sony Cancels Release of 'The Interview' After Cyber Attack

Thursday, 18 Dec 2014 05:34 AM

Sony Pictures has canceled the release of a comedy on the fictional assassination of North Korea's leader, in what appea . . .

Report: Obama Sets Record for Presidential Memoranda

Wednesday, 17 Dec 2014 23:10 PM

From policy on gun control to immigration and labor regulations, President Barack Obama has issued more presidential mem . . .

American Jailed for 15 Years for Helping Al-Qaeda

Wednesday, 17 Dec 2014 22:13 PM

A naturalized American was jailed for 15 years in Miami on Wednesday for conspiring to provide thousands of dollars to A . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved