Thursday, April 25, 2013

A single graph that depicts a society spiraling into the dustbin of history

Why work when you can just collect disability? After all, last month a record 8.9 million took advantage of impossible-to-verify "ailments" like back pain and mood disorders.

...Today, 6.5 workers are on disability for every 100 who have a job. That's double the ratio from two decades ago. The number of people on disability has climbed almost sixfold since 1970.

That influx has caused SSDI costs to climb faster than its dedicated payroll tax revenues. The program has been running a deficit since 2009, and will be insolvent by 2016, according to the program's administrators...

...Last year, the federal government paid $135 billion in disability benefits, which is more money than it devoted to food stamps and welfare combined.

And because those on disability are eligible for Medicare benefits after two years, the sharp rise in SSDI enrollment has put a huge strain on Medicare's budget, costing the program $80 billion in 2012, according to the Congressional Budget Office.

In other words, one-sixth of Medicare's budget now goes to pay benefits for working-age disabled.

Record numbers on disability, a large percentage of which are fraudulent. Record numbers on food stamps, many of those fraudulent. Record welfare payments, many of those also fraudulent. Record income tax credit fraud. In fact, government officials have documented hundreds of billions of fraudulent payments each year laced throughout the federal government's massive, unsustainable wealth redistribution programs.

One might call this the Obama-Krugman-Blodget recipe for national suicide.

But I'll be charitable and simply ask: what is this, the fourth annual "Summer of Recovery"?

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