Have you noticed that the two presumptative nominees for the presidency.......

[jeff47]

112. This is actually an enormous lie, propagated by people who want to cut it.

The Social Security trust fund will be spent by the end of the Baby Boomer's lives.

Which was the plan all along.

The fact that GenX is smaller than the Boomers created a problem for Social Security. Since the Boomers did not have enough kids, those kids could not fund Social Security for the Boomers under the existing system.

So in 1983, the Greenspan commission recommended raising Social Security taxes, and creating a large trust fund that would be spent during the Boomer's retirement.

So yes, the trust fund is going to go broke....just like it was supposed to. Since Millennials are larger than GenX, it is less likely that we need a massive trust fund (It will come down to how many kids the Millennials have).

There needs to be a minor tweak - raising/lifting the cap on Social Security taxes, because income inequality means Social Security taxes are not hitting the same percentage of income as they used to. But that's it. And we don't need to do it now, either. We can easily wait a decade or two, because we do not need to build up a large surplus for GenX.

The "OMG Social Security is going broke and we have to change it NOW!!!" camp is making that claim in order to scare people into dismantling the program.