Video Edition: Disability Insurance
This four-minute video was released Nov. 24, 2015.
The rolls of those receiving disability payments through Social Security have been on the rise for about 20 years and now number close to 9 million people. As policymakers debate the pros and cons of the program, economists are researching what would be the optimal disability insurance program run by the government.
In this video, economist David Wiczer talks about a study he and a colleague undertook. It shows that the ideal program would be not much more generous than what we already have. Their work also shows that everybody benefits from the program — even those who are not disabled — because the insurance encourages people to take on dangerous jobs from which we all benefit.
Economists and other experts from the St. Louis Fed talk about their research, economics-related topics in the news and issues specifically related to the Fed. Views expressed are not necessarily those of the Federal Reserve Bank of St. Louis or of the Federal Reserve System.