Social Security Demand Shows Huge Increase Due To Recession

bloomberg.com:

Applications for Social Security benefits rose almost 50 percent more than expected this year because of the recession, according to the federal retirement program.

Read the whole story: bloomberg.com

Comments

[progressivegreg]

I turned 62 last October, no job prospects and although age discrimination is illegal try and prove it. After a year and a half of "temp work" $10.00 and hour but only 4 or 5 times a month, I was truly tired of not making any major contriibution to the household income and sending my wife off to work every day. Social Security is now paying me $937.00 a month, not a lot but it helps meet household needs and more importantly gives me dignity. I paid in from the time I was 17, and it's a godsend. By the way, I live in Michigan.

[sandiegoconservative]

Unfortunately, you cannot prove age discrimination, or at least it is tough to do. My Dad is in a very similar situation. He and my Mom wanted to wait until he was 65 before he started pulling Social Security for the higher benefit, but with things being the way they are, he lasted until 63.5, then made his request. At least he and you get the benefits a little earlier.

[chasedeconomy]

Everything but the little people have become too big to fail

good articles; http://iamned.blogspot.com

Everyday we pay the consequences of Reaganomics

[Tom95134]

What would you expect? Many people, after retiring, continue to work a few years so when they draw Social Security the benefit will be higher. In addition, with the loss in jobs, those people who are eligible to draw SS early are being forced to apply early. All of this will just add to the drumbeat from the Republicans about Social Security running out of money son and fuel their attempts to privatize it.