UNDERSTANDING SOCIAL SECURITY: How The Sequester Will Hurt It

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BY MICHAEL P. BOYLE, ESQ./ I’m sure you’re aware of the mandatory budget cuts imposed on federal spending as of Mar. 1, 2013 due to sequestration. This process applies to every department of the federal government, including SSA.

While payment of benefits is not affected by sequestration, you can expect this process will exert a negative impact on SSA’s ability to provide services, and will affect the agency’s daily operations.

SSA is already significantly underfunded due to Congress’s failure to implement the President’s proposed budget. This failure has resulted in district offices having to reduce the hours in which they are open to the public. Sequestration will further damage SSA’s ability to provide prompt service, to schedule hearings, and to issue decisions for pending claims.

A Fact Sheet released by SSA (socialsecurity-works.org/wp…/2013/02/SSA-Fact-Sheet-Sequestration.pdf) acknowledges sequestration will impact its field office and hearing office operations. While the timing is not clear, SSA estimates sequestration will result in longer waits in field offices (a likely average of 30 minutes) and for its toll-free 800-number service. The wait to process pending levels of initial disability and SSI claims would rise by over 140,000 and result in additional delays of at least two weeks in issuing decisions.

Sequestration could result in the loss of more than 5,000 SSA employees. At the hearing level, claimants will have to wait nearly a month longer for a hearing decision, and progress in reducing the hearings backlog will decline. Average processing times are already on the rise, with the average now more than a year. With each furlough day, ODAR would not be able to hold 3,000 hearings.

The only way to prevent this from happening is to contact your Representatives in Congress, and your United States Senators, and demand they eliminate the sequester and fund SSA at the levels it needs to function effectively.

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2 Responses to UNDERSTANDING SOCIAL SECURITY: How The Sequester Will Hurt It

  1. It’s a much-safer investment strategy to put money aside for your retirement yourself. At this point, who knows whether or not Social Security will be around when you need it? The stock market is a gamble. Put some money into gold and precious metals, and start an annuity plan. You can’t beat that for reliability, plain and simple.

    Obviously, you should talk to a trusted financial adviser before you make any large investment, but for some quick facts, check out the website listed below – it’s a great place to start and the videos are really well done.

    http://annuityratesinstantly.com

    Mark Sneed
    March 28, 2013 at 1:17 pm

  2. Same old, same old…. Industry shills advocating for public monies to be diverted to private “trusted financial advisers”.

    neil
    April 2, 2013 at 11:51 am

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