Less Fraud = Higher Payments
Photo Credit: ssa.gov
The Social Security Administration ranks third among all government agencies when it comes fraud and abuse. Improper payments of retirement, survivor, and disability benefits totaled almost $10 billion in 2015. Another $4.8 billion was wasted on wrongful SSI payments.
Despite this massive abuse of the system, narrowing down the problem has proven difficult for prior administrations. Many of them simply haven’t cared–until now. Donald Trump is a businessman. He understands all too well exactly how this type of fraud will destroy the program.
The billions of dollars wasted annually, have threatened the solvency of the program–and the financial security of millions of hard working Americans. Instead of replenishing the Social Security funds, they are depleting it.
This has resulted in lower overall benefit payments and very few increases over the years. The SSA has a fairly long list of activities that are considered fraudulent including making false statements, inside corruption, and misuse of social security numbers.
Photo Credit: kendall.org
While all of these are significant abuses of the system, the latter is responsible for the largest amount of loss. Losses that are absorbed by those who legitimately need and deserve the benefits. The misuse of social security numbers happens most often as a result of…
Terrorism and Illegal Immigration
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Not all social security recipients are aware of the impact these two issues have on their benefits–but they should. We have highlighted the burden illegal immigration places on the social security program. A $500 billion burden to be exact.
In the last decade, thanks to new technologies, more sophisticated criminals have found it much easier to steal social security numbers. Many of them have ties to terrorist organizations around the world.
As President Trump works to end terrorism and illegal immigration, social security will steadily improve. The billions wasted in the past will be not be wasted any longer. His efforts today will ensure better benefits for tomorrow.