From the Heritage Foundation, I'm Michelle Cordero, and this is Heritage Explains.

I'll never forget the day that one of my college professors handed out a very political article in a non-political class from the New York Times.

As she passed it around the classroom, she told us that President Bush was trying to take away our social security.

The op-ed was written by Paul Krugman, titled, Gambling with Your Retirement.

I didn't know a lot about the issue at the time, but I know now that George W. Bush was actually trying to help Americans save more money through personal savings accounts.

Over a decade later, the debate hasn't changed. Bush's Social Security Initiative failed, and Social Security, the government's largest federal

program, is running deficits. Each year, the government releases a report on the current and projected

financial status of the program, and this year's report just came out.

Numbers on Social Security and Medicare, when do these two systems run out of money?

Edward Lawrence is with us and he's going to tell us.

Go, Edward.

Yeah, the bad news is the Social Security runs out of money, but by the time I retire,

runs out of money in 2035.

Welcome back to Belchie and Roll.

We got to talk Social Security and Medicare programs that millions of Americans rely on for

retirement and old age care.

Well, guess what?

They're in deep trouble.

A new report says millions of Americans could see their Social Security benefits slashed when they retire.

That report shows the combined trust funds for the government's two

largest programs will run out by 2035. That means there will not be enough money to pay out the

full promised benefits. Instead, it will only be able to pay about three quarters of what was promised.

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