This year's Trustee Report contains troubling but not unexpected projections about Social Security's finances, and once again emphasizes that Congress needs to act to ensure long term solvency of this important program.

It is not your personal money any more. About $0.45 out of every $1.00 of public debt is held by foreign governments, mostly China.

Social Security is in trouble, but just as in 1983, I believe our nation has the will to again save Social Security.

I want to thank both of you for being here today. I think we have had a positive discussion. We do need to fix Social Security and we intend to do it.

Can you tell me why you think tax increases are no answer for fixing Social Security?

No need to act. Things are not fine with Social Security.

Americans have long known that without change, Social Security will be unable to keep its promises to the hard-working taxpayers who pay into the system.

should we continue the payroll tax holiday or should we restore the full stream of revenue to Social Security?

If we get a solution this time, there are going to be political consequences as well.

Your point is absolutely well taken. That is the kind of parsing that I think we have to discuss.

Never has Social Security run a deficit and never can it until we in Congress change the law.