Friday, November 22, 2013

He's the bull in our fiscal china shop! -----Under Obama: Disability Trust Fund Runs Record 5 Straight Yrs of Deficits

Under Obama: Disability Trust Fund Runs Record 5 Straight Yrs of Deficits | CNS News:
"The Disability Insurance Trust Fund has never before run five straight years of deficits.
....From fiscal 1995 through fiscal 2008, the Disability Insurance Trust Fund ran surpluses, as receipts from the disability insurance taxes paid by people who were working exceeded the value of the benefits paid to those claiming disability.
Congress created the federal disability insurance program by adding an amendment to the Social Security Act in 1956. The government paid the first disability benefits in fiscal 1957."

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