Social Security overpaid disability beneficiaries by nearly $17 billion over the past decade, a government watchdog said Friday, raising alarms about the massive program just as it approaches the brink of insolvency.
Many payments went to people who earned too much money to qualify for benefits, or to those no longer disabled. Payments also went to people who had died or were in prison.
In all, nearly half of the 9 million people receiving disability payments were overpaid, according to the results of a 10-year study by the Social Security Administration's inspector general.
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| There goes your Tax Dollars |
Social Security was able to recoup about $8.1 billion, but it often took years to get the money back, the study said.
"Every dollar misallocated is a dollar lost for those who truly need it most," said Sen. Orrin Hatch, R-Utah, chairman of the Senate Finance Committee. "Today's report shows the inability of the Social Security Administration to properly safeguard payments, which has no doubt contributed to speeding the fund toward exhaustion."Read the rest of the story HERE.
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