FOXNews.com - Social Security to Start Cashing Uncle Sam's IOUs

FOXNews.com - Social Security to Start Cashing Uncle Sam's IOUs: "Social Security's shortfall will not affect current benefits. As long as the IOUs last, benefits will keep flowing. But experts say it is a warning sign that the program's finances are deteriorating. Social Security is projected to drain its trust funds by 2037 unless Congress acts, and there's concern that the looming crisis will lead to reduced benefits."

The IOUs are worthless because both with them and without them, the government has to raise funds to cover benefits the same way (tax, cut spending elsewhere, or borrow).