Yes, they'll drain Social Security by 2041. But the money problems will begin long before then
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President Reagan signs a $165 billion bill, to save Social Security from financial collapse. Behind Reagan is (L-R), Senator Robert Dole, (R.-Kans.), Rep. Claude Pepper, (D-Fla.), Rep. Robert Michel, (R-Ill.), House Speaker Thomas "Tip" O'Neill, (D-Mass), Senator Daniel Moynihan, (D-N.Y.), Rep. Barber Conable, (R-N.Y.), and Senator Howard Baker, (R-Tenn.).
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GOP presidential contender Mike Huckabee delivers a defense of Social Security benefits during Florida Gov. Rick Scott's Economic Growth Summit on Tuesday, June 2, 2015, at the Yacht & Beach Club Convention Center at Walt Disney World in Lake Buena Vista, Fla.
This undated picture released from North Korea's official Korean Central news Agency on November 27, 2012 shows North Korean leader Kim Jong-Un (C) during a photo session with participants in the national meeting of chiefs of branch social security stations at an undisclosed location in North Korea. AFP PHOTO / KCNA via KNS ---EDITORS NOTE--- RESTRICTED TO EDITORIAL USE - MANDATORY CREDIT "AFP PHOTO / KCNA VIA KNS" - NO MARKETING NO ADVERTISING CAMPAIGNS - DISTRIBUTED AS A SERVICE TO CLIENTS (Photo credit should read KCNA VIA KNS/AFP/Getty Images)
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Trays of printed social security checks wait to be mailed from the U.S. Treasury's Financial Management services facility in Philadelphia.
BROOKS KRAFT / CORBIS FOR TIME
As the President pushes to reform the retirement system, even Republicans wonder if he is leading his party over a cliff
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Bush sells his ideas on Social Security in Fargo, N.D.
REX RYSTEDT FOR TIME
If the double tax on Social Security were eliminated, Michael Kasprzak and Betty Williams would save $1600
Bush speaks about the budget and his plans for Medicare and Social Security
Vice President Al Gore during a roundtable discussion on Social Security
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Treasury Secretary Jacob Lew, accompanied by Health and Human Services Secretary Kathleen Sebelius, speaks about Social Security and Medicare.