According to recent government projections, the national debt of the United States (relative to the size of the economy) will soon surpass its highest level; it is forecasted to continue growing rapidly thereafter. Recent legislation has accelerated this trend. At the same time, official projections indicate that the U.S. Social Security trust fund will be exhausted within the next ten years. When the trust fund is exhausted, the law will require a substantial reduction in Social Security benefits unless new legislation increases funding for the Social Security system. Given the pressure of growing national debt, Alan Auerbach, professor of economics at UC Berkeley and research associate at the National Bureau of Economic Research, will discuss whether Social Security funding will be available to you and what other economic calamities may occur along the way.