Social Security has been a popular topic this year as the presidential race continues to heat up, and a particularly significant issue to pay close attention to is whether or not the outcome of the election may have repercussions for the SSDI industry generally.  Below are the most currently available views expressed by the top candidates:

 

Hillary Clinton:  Typical for a Democratic candidate, Hillary Clinton is against any cuts to the Social Security and Medicare programs, and in fact is in favor of expansion.  Her website states that “Hillary will… fight any effort to privatize or weaken Medicare and Social Security, and expand Social Security for today’s beneficiaries and generations to come by asking the wealthiest to contribute more.

 

Donald Trump:  Donald Trump has said publicly that he wants to save the Social Security program by creating more jobs, therefore creating more workers to contribute to the Social Security trust funds.  He calls it “honoring a deal.”  He believes that wealthy Americans should voluntarily relinquish their entitlement.  However, in his 2011 book he adopted a less enthusiastic position relative to the disability program, stating:  “Then there’s the disability racket.  Did you know that one out of every 20 people in America now claims disability?  That adds up to $170 billion a year in disability checks.  Between 2005 and 2009, it is estimated that $25 billion were eaten up in fraudulent Social Security Disability Insurance filings.  On and on, scam after scam it goes; as always, taxpayers are the ones getting stiffed.”

 

Hillary Clinton represents the less risky scenario for those relying on the SSDI program for monthly income because she is in favor of expanding entitlement programs.  While Donald Trump has not specifically called for program cuts, he has been critical of the disability program, particularly relative to fraud in the system.  As we know, however, fraud actually makes up a very small percentage – less than 1% – of SSDI program costs.  Congressional Republicans have also been very critical of the SSDI program throughout President Obama’s term and a Republican President paired with a Republican majority Congress would be more likely to result in legislation harmful to SSDI beneficiaries. 

 

As the election draws closer we will continue to pay close attention to this topic, and encourage you to do the same.  In the meantime, we are continuously evaluating the Social Security landscape as well as our own processes to ensure that we are providing you with the most efficient and thorough service possible. We will continue to work closely with Social Security on your behalf to help you obtain the benefits you need.

 

Nothing in this post is intended as advice or a suggestion to elect or not elect to claim benefits of any kind, including Social Security benefits, nor is it intended as financial advice in any way.  The decision to claim benefits is a personal one that is contingent upon each individual’s unique circumstances.