Econintersect: The Social Security Disability Insurance (DI) program is one of the entitlement programs for which costs are spiraling out of control. This program “pays cash benefits to nonelderly adults (those younger than age 66) who are judged to be unable to perform “substantial” work because of a disability but who have worked in the past.” The Congressional Budget office (CBO) has prepared a study on potential solutions which center on the following options:
- increase program revenue
- change the disability insurance benefit formula
- change how the disability insurance benefits grow over time
- change the eligibility rules
- change the waiting period for benefits
Following the “Read More” is an infographic laying out the situation and potential solutions.
[click (twice) on infographic to make it big]
An entitlement program is one which guarantees access to benefits based on established rights or by legislation. A list of other entitlement programs:
529 or Coverdell
Home Mortgage Interest Deduction
Hope or Lifetime Learning Tax Credit
Student Loans
Child and Dependent Care Tax Credit
Earned Income Tax Credit
Social Security–Retirement & Survivors
Pell Grants
Unemployment Insurance
Veterans Benefits
G.I. Bill
Medicare
Head Start
Social Security Disability
SSI–Supplemental Security Income
Medicaid
Welfare/Public Assistance
Government Subsidized Housing
Food Stamps
Source: Complete CBO Study
