We're in Bad Shape

I'm going to be the bearer of bad news again. Our safety net (or call it our doomed cluster of entitlement programs) is in bad shape. My purpose in writing isn't to blame anybody but instead to let you know where we are at and where it might lead.

According to the Associate Press, Social Security has fallen into a "permanent deficit." In 2011, the Social Security Administration will pay out $45 billion more in retirement, disability and survivor checks than it takes in in payroll taxes. And as the baby boomers retire, bigger and bigger deficits will pile up. At the rate we're going, the Congressional Budget Office (CBO) tells us, nothing will be left by 2037. However, many people, myself included, are inclinded to think that the CBO's projection is overly optimistic.

What can we do?
Ignore the problem until the money is completely gone?

Another option was presented in an article by Charles Hugh Smith. If anybody else has any better ideas, please let me know - or let our elected officials know.