Possible SSDI Collapse May Be Predictor of Overall Economic Turmoil

afa18bb8ec31436dd077_guest_column.jpg
Credits: Walter Pardo, Managing Partner
afa18bb8ec31436dd077_guest_column.jpg

The Rand Corporation recently issued a report that indicates that the Social Security Disability Insurance (SSDI) program could become bankrupt within four years. According to the report, the program is paying more money than it takes in and the funds could be depleted by 2016. In addition, the overall employment rate for workers with
disabilities has fallen by a staggering fifty per cent, despite legislation that is designed to protect such individuals in the workplace. The Americans with Disabilities act and Section 504 of the Rehabilitation Act have become nearly meaningless in providing employment opportunities and job securities for people with disabilities.

Those individuals with disabilities who are forced out of the workforce will become welfare recipients and inevitably wards of the State, unless opportunities to return to the workforce are provided. According to Disability World, the trend continues to increase:

“The unemployment rate for people with disabilities climbed back above 14 percent during the first quarter of 2012 after dropping significantly at the end of 2011, according to a study by Allsup, a nationwide provider of Social Security disability representation and Medicare plan selection services.

Income at Risk shows that people with disabilities experienced an unemployment rate nearly 74 percent higher than the rate for people with no disabilities for the first quarter of 2012. Allsup has been conducting this quarterly study since the first quarter of 2009.

…… People with disabilities experienced an unemployment rate nearly 74 percent higher than the rate for people with no disability.”

The dichotomy exists that there is a population that wants to work but is rendered unemployed, and is now without protections that would allow them to survive while they seek employment.

It is clear that as long as we have such segments of the population who remain at economic risk there can be no comeback from the fiscal crisis of recent years. New Jersey, as well as the rest of the nation, may continue to engage in an economic collapse.

Unfortunately, any optimism that has been offered to the public by the Governor has been sadly misplaced.

 The Guest Column is our readers' opportunity to write about a given issue or topic in an in-depth and educational manner.

The opinions expressed herein are the writer's alone, and do not reflect the opinions of TAPinto.net or anyone who works for TAPinto.net. TAPinto.net is not responsible for the accuracy of any of the information supplied by the writer.

TAP Into Another Town's News:

You May Also Be Interested In

Sign Up for E-News

Chatham

Upcoming Events

Carousel_image_e54353bd68f7785329f6_donate-blood

Fri, April 27, 2:00 PM

Madison Area YMCA - Kroll Conference Room, Madison

Blood Drive

Giving Back Health & Wellness Other

Sun, May 20, 2:00 PM

Chatham Township Municipal Building, Chatham

A Tour of Chatham Township and Green Village

Arts & Entertainment

Robotics and Turkey Sandwiches

April 24, 2018

April 22, 2018

Below is the thank you letter written to all of the groups involved in a wonderful service project today in support of Bridges Outreach, a Summit based organization that has been aiding local homeless friends for 30 years.

Dear Central Presbyterian Kindergartners, Stanley Family and friends, Fear the Gear, Columbia High School robotics and Washington Avenue School ...

Chatham Brownie Troop Makes Lunches for Bridges Outreach Program

April 25, 2018

Milton Ave Brownie Troop 96312 assembled and donated over 30 sustainable lunches for Bridges Outreach on Tuesday, April 24th.

Included in the lunches were canned chicken with crackers, fruit cup, goldfish, cereal bar & a water bottle. Bridges Outreach, based in Summit, delivers meals, clothes and support to homeless and food insecure people in lower Manhattan, Newark and ...