Treasury

This week, during a hearing of the Ways and Means Committee on the President’s Fiscal Year 2015, Tom Reed questioned the Treasury Secretary Jack Lew on the insolvency and impending bankruptcy of the Social Security Disability Insurance Program (SSDIP).

Reed was concerned Secretary Lew did not address or mention the forthcoming insolvency of the SSDIP, and that the president failed to directly address the issue in his budget.

In his testimony, it seemed that Lew’s answer to the imminent insolvency of the SSDIP is to reallocate funds from the Social Security program, but Reed thinks that taking from one program to the other is not the solution.

With a recent $30 million dollar disability insurance scheme being uncovered in New York, fraud and abuse is a huge project that needs undertaking. Reed says that he would like to see the programs strengthened by reducing the backlog of disability review and cutting down on waste and fraud.

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Kenneth G. Marks has been practicing personal injury law since he was admitted to the California Bar in 1981. www.KmarksLaw.com