Everything I've read says there's no problem in the near future (say 15 years or so) and anybody over 50 has nothing to worry about, their benefits or current benefits going out now will not change. Longer term than that however and it's a problem. The bigger problem is how to get the average person to realize their long term retirement is up to them. The thing with so many people is they simply don't make enough money to start a long term savings plan in their 20'a or early 30's. That's when money is tightest, they just got married, they start having kids and most of us know how much that all costs. If a young person is smart enough to get a useful professional degree great but most don't have that or if they do have some kind of degree is a useless one like lib arts, psych, music (I know, I hate to say that but it's true). Or, they have no higher ed at all so where are they supposed to get any money to start saving? It's nice to lecture young people and all that but everybody knows that doesn't work. If some money isn't taken out right at the source forget it, it will just get spent and that's it. That's why even though I'm pretty conservative and I know the Republicans fought the whole idea of Social Security tooth and nail back in the day, it's completely necessary. Without it a whole lot of people will be screwed 30 years from now.

Mick, I doubt there's any warehouse like that but you're right about one thing, there never was any kind of "trust fund". That was simply a term the politicians used to sell the idea just like during the Bush/Gore campaign when Gore was talking about the SS lockbox. No lockbox, never was.

Bob

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