The Heritage Foundation has a summary of the Social Security Trust Fund report, here,
(Thanks to Amy Ridenour's blog. which you should be reading from time to time.)
As near as I can tell, I'm going to be okay. But you young-uns out there . . . better be pushing for big-time social security reform, AND, your private social security accounts, AND be tucking money away in your own accounts. Oh, and also you should be making lots of babies who will grow up and earn money and contribute to the system.
That's because, did you notice that Alan Greenspan is once again on the lookout for inflation? Inflation is how government pays for stuff when it doesn't want you to think your taxes are being increased by governmental confiscation of a greater proportion of the country's productivity. Inflation is how we pay for wars, so we can have, in the estimable words of L.B.Johnson, "guns and butter." For many people, inflation means -- better spend your money on stuff right now, because your money will be worth less next year -- except you don't have any extra money to spend right now and next year is kind of iffy, altogether.
I just scared myself. This coming late in life to see the practical benefits of socialism, and getting comfortable with the idea of a big government caring for me just isn't as great a deal as I'd lately come to think.
I think I'll go buy something.