Obama Eyes Social Security Fix Without Cutting Benefits
President Barack Obama called for a “bipartisan solution to strengthen Social Security” — which includes Supplemental Security Income for Americans with disabilities — during his State of the Union address Tuesday night.
What type of fix the program will ultimately receive is unclear, however, with the president ruling out benefit cuts or privatization.
“We must do it without putting at risk current retirees, the most vulnerable, or people with disabilities; without slashing benefits for future generations; and without subjecting Americans’ guaranteed retirement income to the whims of the stock market,” Obama said.
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The president’s comments come as Social Security is estimated to run out of money by 2037.
As of December 2010, nearly 8 million Americans with disabilities were receiving SSI benefits out of almost 60 million Social Security beneficiaries.