Check out what some of these mainstream sources have to say about it:
New York Times (free registration required)
"Prudence dictates taking steps now to minimize the possible shortfall. This could include raising the cap, some modest cuts and tax increases and a gradual redeployment of the trust fund into assets that may not be tapped, willy-nilly, for whatever legislative purpose. But only a real crisis would dictate undoing an institution that has provided a safety net for retirees, that has helped to preserve in the social fabric some minimum of shared responsibility and that has been supported by workers in good faith. And, in looking at Social Security today, the crisis is yet to be found. "
Time Magazine
'At
another appearance intended to promote federal standards for testing
high school students, Bush went off script to warn a group of
teenagers, "The system will be bankrupt by the year 2040."
That sounds pretty scary—except that it's not true. What will
actually happen in 2018, according to the Social Security trustees
who oversee the program, is that the money paid out in benefits will
begin to exceed the amount collected in taxes. And since Social
Security will run a surplus until then (and has been running one for
some time), it has billions available that it can tap to fill the
gap. Even under conservative estimates, the system as it stands will
have enough money to pay all its promised benefits until 2042 and
most of its obligations for decades after.'
