Social Security Edges Closer to Insolvency with Bad Claims

"...Social Security is so overwhelmed by disability claims that some officials are awarding benefits without adequately reviewing applications, potentially adding to the program’s financial problems as it edges closer to the brink of insolvency, congressional investigators say in a new report.

In more than a quarter of the 300 cases reviewed by congressional staff, decisions to award benefits “failed to properly address insufficient, contradictory or incomplete evidence.”..."

Read more at The Washington Post

Social Security Claims Decline

"...Social Security sign-ups spiked in 2009, when a record high of 3.2 million Americans age 62 and older began collecting benefits. But the number of people newly claiming Social Security has since declined to 3.1 million in 2010 and 3 million in 2011, according to a recent Urban Institute analysis of Social Security Administration data.

Part of the 2009 surge in new Social Security applications was due to the oldest baby boomers reaching the age of eligibility for Social Security benefits..."

Read more at usnews.com