Reply #145: You are correct...

[Iowa]

According to current projections, the trust fund will not be exhausted until 2037 (27 years). At that point it is projected that incoming funds will provide enough for 76 cents on the dollar. So if absolutely NOTHING is done, the day of reckoning probably will not occur for 27 years, and will result in a 24% reduction in benefits. This really isn't an urgent issue.

Nixing wars about nothing, reducing defense spending, ending the stupid drug war (and emptying prisons in the process), single-payer health care, and raising taxes on the well-heeled would eliminate the deficit in short order and put us on the path to prosperity. Unfortunately, we need many genuine FDR-type Democrats in office to get these things done... something we don't have at the moment.

Welcome to DU.