If something doesn't change soon, trustees who oversee the Social Security retirement and disability programs fear funds will run out. It is no secret that the Social Security system is at a crisis point, however with applications for benefits up 50% from the same period ten years ago, there is a real concern about funding.

As the baby boomers begin retiring in droves and millions of workers find themselves out of work, the number of applications for Social Security disability are on the rise. With the recent recession and economics crisis, close to 7 million jobs have been lost, many of which were performed by individuals with disabilities. For these individuals, finding a new job in the current economy may be difficult if not impossible. As a result, more and more individuals are turning toward government run programs for financial support.

Of course as more people turn to these programs and fewer people are working to fund the programs, the result will be a shortage of funds. It is estimated that the Social Security Disability program will run out of money by 2017 leaving many individuals in financial hot water as full benefits are no longer able to be paid.

There are proposed changes that can help slow the upcoming shortage of funds, however almost all proposed changes will negatively affect at least one segment of the population. A means test for wealthy retirees and reduced or limited benefits for those currently receiving disability benefits are two of the options available.

It remains to be seen what exactly will happen with these programs and how they are administered today and in the future, however one thing is certain. Without an influx of cash or a drop in benefits paid out, insolvency is almost inevitable.