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Americans Joining Disability Is Now Outpacing Americans Finding Jobs: Is This a Sign of a Coming Depression?

Daryl 2012/07/18 16:00:00
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WEEKLYSTANDARD.COM reports:
As the chart shows, between April-June 2012, an estimated 246,000 Americans were added to Social Security's disability insurance program. In that same time period, only 225,000 American jobs were created.

employment jobs social security unemployment weekly standard read magazine online

Read More: http://www.weeklystandard.com/blogs/americans-join...

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Top Opinion

  • Don Leuty 2012/07/18 06:30:43
    Yes
    Don Leuty
    +11
    When users outnumber producers, we become just like the Soviet Union. Uniformly poor with no incentive to improve our lot.

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  • richwright SA 2012/07/19 04:15:54
  • richwright Dee 2012/07/19 03:27:04
    richwright
    +1
    good scam.
  • Rusty Shackleford 2012/07/18 19:57:28
    Yes
    Rusty Shackleford
    +2
    It's an 0bamination.
  • BifDaddy 2012/07/18 19:49:16
    Yes
    BifDaddy
    +3
    Definitely a sign of something … and it’s not good.

    Just one more example of the consequences resulting from Obama’s poor performance.
  • richwright BifDaddy 2012/07/19 03:29:32
    richwright
    +1
    the alternative would have been an economic collapse and more troops all over the world. not good.
  • DavidK 2012/07/18 19:48:13
    Yes
    DavidK
    +3
    Extending unemployment benefits and 3 years of campaigning has shown little sign that Obama cares about this problem.
  • susan 2012/07/18 19:47:15
    Yes
    susan
    +2
    Another sign of a large part of the middle class being moved into the welfare class. Most of it is not voluntary. The Great Recession of 2008 was caused by an overwhelming trust in the banks, as Ben Bernanke said, to "do the right thing." In the meantime, US Treasury Sec. Geithner acted to protect those banks by giving them the means and the incentive to destroy middle class businesses and jobs. Those people whose jobs and small businesses were destroyed have few options. Of the 8.3 million jobs destroyed by Obama's Treasury henchman, 22% were in the construction industry directly, with many more in the related industries, all the way down to the consumer level.
    Most of those construction people were skilled trade workers. The private sector is still under the gun from unethical banks who ruined their employers for no reason to satisfy the mistaken opinion of economists like Bernanke and Geithner that the banks' problems were caused by the borrowers, not by the banks' excessive and free-wheeling lending without analysis.
  • richwright susan 2012/07/19 03:31:50
    richwright
    +2
    that's about right. Dems are controlled by the corps too.They are just a little more consumer friendly than Pugs who greedy enough to want it all.
  • susan richwright 2012/07/19 13:21:39
    susan
    +1
    Dems are not consumer-friendly by any means. They spout the rhetoric of being for the poor, the downtrodden, the minority, and the consumer, most of it in terms of being anti-Republican and anti-rich, rather than FOR anything. The policies and laws they introduce and vote for are just the opposite. They simply have a better connection, more power and influence with the media to get their lies out
  • richwright susan 2012/07/20 03:01:55
    richwright
    You don't give any specifics. Being anti-Republican and anti-rich is generally pro consumer. Labor, health, safety, and environmental laws are generally pro Consumer. Wanting to tax those making over 250K and rescind tax breaks to corps offshoring jobs is pro Consumer. This is what the Dems promote. This is what the Pugs fight against hook, line, and sinker. What exactly are you talking about? Yes, Dems are controlled by Big Business too but they are a bit less greedy and more pro Consumer.
  • susan richwright 2012/07/20 16:21:48 (edited)
    susan
    Pro-consumer? I don't think so. Our economy is a circle. What happens in one sector impacts the rest, and at each point on the circle the government impacts what happens in the private sector.
    Let's look at the 2008 great recession, in which 8.3 million jobs were destroyed. According to the Federal Reserve of St. Louis, 22% of those jobs were directly in the construction sector, with most of the rest a result of those construction jobs lost.
    What happened? The US banking sector had been overheated, making loan after loan, particularly in the commercial real estate and construction market (not just individual loans) without consideration to the effects of excessive numbers of such loans in a bank's portfolio and each bank's ability to meet the capital needs to fund those loans. The US Treasury was involved in trying to solve the increasing number of banks who were in trouble because of those excessive loans. US Treasury Sec. Geithner, appointed by Obama in 2008, with full authority to allocate TARP funds approved by the US Congress in October, 2008, ordered Treasury officials working with the banks to require them to get out of all EXISTING real estate and construction loans by any means possible.
    (For proof, read the board minutes of 2007-2008 involving the sale of the...



    Pro-consumer? I don't think so. Our economy is a circle. What happens in one sector impacts the rest, and at each point on the circle the government impacts what happens in the private sector.
    Let's look at the 2008 great recession, in which 8.3 million jobs were destroyed. According to the Federal Reserve of St. Louis, 22% of those jobs were directly in the construction sector, with most of the rest a result of those construction jobs lost.
    What happened? The US banking sector had been overheated, making loan after loan, particularly in the commercial real estate and construction market (not just individual loans) without consideration to the effects of excessive numbers of such loans in a bank's portfolio and each bank's ability to meet the capital needs to fund those loans. The US Treasury was involved in trying to solve the increasing number of banks who were in trouble because of those excessive loans. US Treasury Sec. Geithner, appointed by Obama in 2008, with full authority to allocate TARP funds approved by the US Congress in October, 2008, ordered Treasury officials working with the banks to require them to get out of all EXISTING real estate and construction loans by any means possible.
    (For proof, read the board minutes of 2007-2008 involving the sale of the largest regional bank at the time, National City Bank, to PNC Bank, using $7 billion in TARP funding, in which US Treasury officials were in attendance. Those minutes were printed in the Cleveland Plain Dealer.)
    The result of that ruling/order from the US Treasury was that the banks chose specific real estate and construction loans and declared them "bad" without cause and for no reason, shutting down construction projects all across the nation, merely because the banks had the power to do so. -- A federal judge in a NCC case in Chicago, Illinois refused to hear evidence of verbal fraud by the bank, and ruled that, while the bank had no reason to call such a loan, and acted in bad faith, it "had the right to do so."
    All private commercial construction projects in this country are financed through such loans. The people you refer to as "rich" are the ones out there taking risks and pledging everything they own on those loans in order to build buildings and jobs. In most cases, they have worked 70-80 hours a week for most of their lives to build businesses. Each one of those construction loans called on ongoing construction projects led directly to the layoffs of construction workers working directly on the project, to manufacturers of the materials and equipment supplying the project to having to lay off workers, to the manufacturers of appliances, furniture, flooring and other consumer goods laying off workers. In those cases, many of those various contractors and suppliers went unpaid for work completed, with the only option to file mechanics liens to try to recover a part of the money owed them.
    The workers who lost their jobs then had problems paying their mortgages, paying for their vehicles, and basic family needs -- thus, reduced consumer spending.
    Right now, the climate of government regulation/rule-makng and the lack of attention or ignorance of such unintended consequences by bureaucrats such as Obama's appointed Treasury Secretary Geithner has created a climate of concern that whatever a business does is subject to seizure or destruction on the whim of such bureaucrats. That is a big reason why jobs are not coming back, and those jobs fuel consumer spending.
    (more)
  • zepp77 2012/07/18 19:39:05
    Yes
    zepp77
    +5
    Hope and Change Baby! Hope and Change! Obama 2012!!!!!! Ehhh, Not!
  • mal 2012/07/18 19:08:35
    No
    mal
    +7
    It is a sign of people on the dole and the collapse of social security.Pelosi and others made it easier to collect disability for more votes.
  • richwright mal 2012/07/19 03:32:24
    richwright
    +1
    better that than die.
  • Hawkeye 2012/07/18 18:43:42
    Yes
    Hawkeye
    +9
    Just another example of how Obama is crippling America and I don't MEAN that as a joke...
  • richwright Hawkeye 2012/07/19 03:32:48
    richwright
    +1
    but it was kinda funny.
  • gynger.fyer 2012/07/18 18:37:00
    No
    gynger.fyer
    +2
    It is unsistainable over the long term though. Most oeople getting disability also qualify for Medicare or Medicad and we know those wells are drying up. We will see thi number spike I think with the amount if disabled vets returning. Can some one confirm if they are eligible for SSI or are they in a military disability payment plan. At any rate, I'm sure we will come up with a plan to manage even this. Depression? Nah!
  • Hawkeye gynger.... 2012/07/18 18:45:43
    Hawkeye
    +4
    Most vets qualify for VA disability..They ALSO have the benefit of a VA hospital system..
  • Lanikai Hawkeye 2012/07/18 19:18:19
    Lanikai
    +1
    ONLY if they can get care at one. My dad was told by the VA to use medicare now that he is about to turn 70.
  • Hawkeye Lanikai 2012/07/18 19:21:13
    Hawkeye
    +2
    Yeah.. I have heard some stories along those lines.. The VA seems to follow the Defense Budget when it comes to patient care.. It's likely to disappear altogether when Obamacare goes into full swing..
  • richwright Hawkeye 2012/07/19 03:34:13
    richwright
    +1
    you Pugs are the ones who want a balanced budget. Can't have it both ways.
  • richwright Hawkeye 2012/07/19 03:33:23
    richwright
    +1
    that's why you stay out of wars.
  • FanOreilly 2012/07/18 18:30:13
    Yes
    FanOreilly
    +7
    More people riding on the wagon than pulling it.

    Methinks this is a bad sign.

    pull the wagon
  • Wolf 2012/07/18 18:19:34
    No
    Wolf
    +8
    No this is a sign of outright fraud...that is part of this massively bloated public sector...it is time for massive restructuring and reform and save over $2.5 Trillion today plus another $3 Trillion in the millionaire pension obligations in the Public Sector that are outright fraud...the cancer in America is right outside your door...the Public Sector...just read the Labor Agreements and you will see the fraud in Black and White...the politicians and Public Sector are raping and robbing the taxpayers at levels never imaginable...
  • richwright Wolf 2012/07/19 03:37:04
    richwright
    +1
    it's corporate welfare pal. Displaced workers from offshoring have to make up the tax deductions corps take to move jobs overseas. talk about adding insult to injury. Get rid of the Pugs and bring jobs back like O and the Dems want to do.
  • Billy the kid 2012/07/18 18:11:45
    No
    Billy the kid
    +5
    Of course, there must be many individuals in your country who are genuinely 'disabled'
    On the other hand, if America is anything like MY country-Britain-there will also be many others who 'are jumping on the bandwagon', so to speak, who are not disabled in the slightest and prefer living off 'disability' benefits rather than doing a hard day's graft for their money.
  • Lanikai Billy t... 2012/07/18 19:21:11
    Lanikai
    +5
    Mostly here it is "riding the system".

    The deadbeats now coach each other on how to use the system, what DR will write a disability with a partner to defend it and which lawyers in town help get it pushed thru.
  • Billy t... Lanikai 2012/07/18 19:23:14
    Billy the kid
    +2
    We agree in principle, anyway!!
  • evangelism_vision 2012/07/18 18:05:52
    Yes
    evangelism_vision
    +5
    Obama says the unemployment rate is only 8.5% IS OBAMA A TWO-FACED LIAR?

    ******************************* YES HE IS *****************************...

    46 MILLION PEOPLE ARE OUT OF WORK ALL OVER AMERICA THAT DOES NOT INCLUDE THOSE WHO HAVE STOPPED LOOKING FOR WORK OR THOSE WHO FILED FOR DISABILITY

    ADD THOSE NUMBERS TO THE 26 MILLION

    Managers are afraid to hire New help because of an Obama Economy


    DID YOU KNOW THAT MORE THAN HALF OF GE'S EMPLOYEES IN THE WHOLE COMPANY WORK IN CHINA?

    DID YOU KNOW THAT OF THE 46 PLANTS THEY OWN, MOST ARE OVERSEAS?

    DID YOU KNOW THAT THEY ARE OBAMA'S # ONE COMPANY BESIDES GM AND THAT
    THEY DID NOT PAY " ANY" INCOME TAX IN 2011?

    DID YOU PAY INCOME TAX?

    IS IT FAIR THAT FRIENDS OF OBAMA DON'T HAVE TO, BUT YOU DO?
  • rightside 2012/07/18 18:04:33
    Yes
    rightside
    +4
    Its is, but its not the main reason. People just see that not working is working. They can get money and sit on their butts and it sounds good.
    My sis n law works for the judges that decide and she says there is so much fraud going on and people come in after going to 20 different doctors to find one that will give them the green light.
  • Lanikai rightside 2012/07/18 19:22:18
    Lanikai
    +5
    Disability Mills. We have 2 here. backed by a few lawyers willing to take a percentage of the initial payout to get them the SSDis package.
  • rightside Lanikai 2012/07/18 20:06:55
    rightside
    +2
    How about they let us, the taxpayer, make the decision.
  • Lanikai rightside 2012/07/18 20:11:08
    Lanikai
    +3
    I agree. We would certainly have said NO to the Adult Baby continuing on disability.



    A 30-year-old California man who wears diapers and lives as an “adult baby” can keep his $800-a-month Social Security disability checks, the agency ruled. Stanley Thornton’s infantile lifestyle won him national attention after a National Geographic TV show revealed how he was spoon-fed and clad in baby clothes by his roommate and how he built furniture like oversized high chairs in his Redding, Calif., apartment.

    Read more: http://www.foxnews.com/us/201...
  • Lanikai Lanikai 2012/07/18 20:11:46
    Lanikai
    +2
    So he makes and sells furniture but gets to keep a disability check and FULL medical/dental at our expense.

    OY.
  • rightside Lanikai 2012/07/18 20:47:02
    rightside
    +1
    If he's got a mental disability, then he belongs in some special room in a mental hospital. Of course its california.
  • Lanikai rightside 2012/07/18 21:45:44
    Lanikai
    +2
    If he is CAPABLE of supporting himself WHY are we supporting him?

    Because he told the judge that he would kill himself if they cut his disability off.
  • rightside Lanikai 2012/07/18 21:51:26
    rightside
    +3
    Then we let him cut his wrists.
  • Lanikai rightside 2012/07/18 21:56:16
    Lanikai
    +3
    Yeah, but the Cali judge won't do that, and now the guy brags that HE gets paid for being a baby. ER!!!!!!

    Makes me really angry.
  • rightside Lanikai 2012/07/18 21:57:39
    rightside
    Yeah, but again, that's california
  • SA rightside 2012/07/19 03:53:26
    SA
    +2
    Unfortunately the laws protectecing the mentall ill that are in place do more harm than good. I went through a lot of hassle after my son was in an accident and was in a coma that triggered his mental illness.
    Because he was an adult I had to fight for him to get help that he needed.

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