[kabar]

That's how America got into the fix that will see the Social Security trust fund run out in 36 years unless something is done, according to James B. Lockhart III, deputy commissioner of the Social Security Administration.

There is no money in the SS Trust Fund, just non-marketable T-Bills, which are really IOUs. SS is a pay as you go system. Beginning in 2008, the SS "surplus" will start declining and in 2017, we will start paying out more than we are taking in. In order to meet those obligations, we will need to borrow more money and/or cut spending or programs.

I am a little concerned that the Deputy Commissioner of SSA is still maintaining the charade of a SS Trust Fund.

[EGPWS]

Beginning in 2008, the SS "surplus" will start declining and in 2017,...

Lest we forget the increase in retirement age that has been bestowed upon us via SS also.