The Associated Press reported.The Social Security’s disability program has been flooded with requests and benefit claims from laid-off workers and an aging group of baby boomers, helping to push the system toward complete insolvency,
Applications to the program have increased up to 50 percent from over 10 years ago, as individuals with disabilities have struggled to find jobs in the current economy, according to the news outlet.
The current system will be unable to sustain itself at the current pace of applicants that are flowing in, adding to the backlog for the program that already exists. This problem has brought to light many of the inadequacies with the Federal organization, reported the AP.
New Congressional estimates lead experts to believe that the trust fund that provides money to the program will be bankrupt by 2017, something that may exacerbate the current situation, which has more than 700,000 more applicants for Social Security this year than in 2008, reported the news outlet.
There have been several measures enacted by the organization in an attempt to save money. For example, Social Security stopped mailing its statements to beneficiaries, something that could save the Federal program $30 million a year, The Boston Globe reported.