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Tags: disability | payments | record | numbers

People on Disability Payments Hits Record 8.7 Million

By    |   Monday, 02 July 2012 08:55 PM EDT

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.

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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.

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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.



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Monday, 02 July 2012 08:55 PM
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