"Dave" wrote
IOUs for it in the form of bonds. Once the money being paid by us working
stiffs isn't enough to pay out the current benefits, the guvmint will (it
is
hoped) start paying off the bond IOUs from some combination of income
taxes
on working stiffs and the proceeds of issuing more bond IOUs, so it can
use
that money to pay the SS IOUs.

Yup. Good old RR, king of the neocons, ran up huge deficites and threw a
party, just like GWB is doing right now. They call it prosperity.
Conservatives call it madness. Democrats under Clinton tried to fix the mess
but he got a BJ and that's alot worse than putting us $trillions in debt. So
when your SS taxes no longer pay benefits, then there will have to be a big
tax increase to pay the bills from RR's party - and it won't be on the rich.
Later on your kids will get to pay for GWB's fun. But the people of Iraq
will have been made free to elect an Iranian style democracy. Enjoy the
party ....