Yes, but it is just about to zoom up as the baby boomers start retiring over the next 20 years. It is a double wammy to the budget because they will switch from paying in to pulling out.
True, though Reagan somewhat planned for that with the 1983 Social Security tax hike, which was designed to pull in ~20 years of higher baby-boomer Soc. Sec. tax revenue to pay for their retirements. Hence the huge surpluses Soc. Sec. has been running for some years, to accumulate a few trillion out of which to pay for their retirements (if it weren't for that, Soc. Sec. tax could've been a lot lower over the past 20 years purely to break even year-to-year).
