Social Security is currently taking in more money than it pays out. It will continue this way, everyone agrees, until about 2018.
In 1983, the National Commission on Social Security Reform (the Greenspan Commission) recommended that the OASDI (Old-Age, Survivors, and Disability Insurance) tax be increased to provide a surplus in anticipation of the ?baby boomers? reaching retirement age. Congress agreed and each year since the surplus has been invested in government securities (just as many of us invest in savings bonds or T-bills).
Beginning in 2018 the securities will be redeemed and the surplus will be used, just as intended, to meet the shortfall between OASDI receipts and benefits paid.
If nothing is done the surplus will be gone by 2052 (according to the Congressional Budget Office) and the OASDI tax will only equal 81% of the anticipated benefits each year.
Currently there are three OASDI taxpayers for each person getting benefits — and the system produces a surplus.