Social Security Disability-insurance Program Faces 2016 Financing Shortfall

The Social Security disability-insurance program will be able to pay only 81% of benefits starting in late 2016 unless Congress acts to replenish the fund, trustees of the program said Wednesday in their annual report. In the past, Congress has diverted tax revenue from Social Security's main retirement program to allocate more revenue to disability benefits, said Kathy Ruffing, a senior fellow at the Center on Budget and Policy Priorities. Social Security's combined funds will be solvent until 2034, one year later than estimated in the prior report. The Medicare hospital-insurance trust fund will be exhausted in 2030, the same as estimated last year.