Geotechnical engineers use footing allowable bearing pressure as the input load for the estimation of consolidation settlement, a.k.a long-term settlement. It is to be noted that the allowable bearing pressure includes 100% of dead load (D) and 100% of live load (L) . However, ASCE 7-10 allows to use smaller loads for calculation of long-term settlement. Per ASCE 7-10 – Commentary Appendix C – Serviceability Considerations – Section CC.1.1:

“For serviceability limit states involving creep, settlement, or similar long-term or permanent effects, the suggested load combination is:

D + 0.5L 

…“

We may use allowable bearing pressure for evaluation of immediate settlement and bearing capacity, but for long-term settlement due to the nature of the live loads there is no need to consider the entire live load in the calculations.