In 1950, there were 16 workers paying Social Security taxes for every retired person receiving benefits. Today there are 3.3. By 2030, there will be only 2. By 2030, there will be 70 million Americans of retirement age--twice as many as today. SS is unsustainable as currently structured. It is also a pay as you go system that will start going into the red in 2017, i.e., it will be paying out more than it is taking in.
If nothing is done, by 2060, the combination of Social Security and Medicare will account for more than 71 percent of the federal budget.
The status quo is not an option.