It’ll be there because no politician has the guts to oppose it. But like any ponzi scheme the people in it at the end get shafted the worst, especially if the numbers of recruits (who are now children) drop.
$2.6 TRILLION in a SS lockbox, of nothing but IOU's.
By law, any "surplus" in SS, SS has to buy government bonds. Government bonds, to pay for things like roads, bridges, levies (Like NOLA, that were never built), fountains, government trips...
General expenses, that when normal budgeting couldn't afford, they just used the money from the bonds, to pay for the things they wanted.
Well, I'm not sure you're aware, but SS no longer has a surplus every year. With the drop in employment came a drop in SS taxes.
Soon SS will be running deficits and it'll be time to open the lock box and start pulling out and cashing in those government bonds. Bonds where the money has already been spent.
We are running $1 TRILLION a year deficits...just on our everyday spending. We are $16.7 TRILLION in debt. Where are we supposed to get more money to pay back the government bonds sitting in SS? There are approximately 311 million people in the US. There are about 155 million in the work force. If SS started running a deficit of $155 BILLION a year (Which seems like nothing when your talking $1+ TRILLION a year in general spending deficit) That would be an extra $1000 a year for EVERY WORKER to contribute just to try and keep SS afloat.
And we haven't even talked about the extra costs Obamacare is going to place on everybody.