Re: The end of the "Trust Fund" myth
More than you really want to know about this <a hrerfhttp://en.wikipedia.org/wiki/Social_Security_Trust_Fund" rel="nofollow">here.
Note that the government, in the final extreme, has the power to simply create money out of thin air to cover these things. It's been doing this a lot lately.
Unfortunately, as the "easy" answer to government spending, it's the most likely one. Hyperinflation. Our kids will get huge checks that will buy nothing.