Social Security was instituted by Franklin Roosevelt in 1935 as a tool to prevent seniors from living in poverty after a lifetime of work. Today, nearly 60 million Americans receive retirement, disability, or survivors benefits from Social Security.

And at $897 billion annually, Social Security is the single largest budget item of the United States. This one program consumes about 25% of all government revenues. But those numbers will accelerate over the next decade.

You see, there were more than 76 million baby boomers born between 1946 and 1964. The oldest baby boomers have already entered their retirement years while the youngest are still in their 50s.