The real sin with Social Security is that it's a long-term rip-off and a short-term scam.

While Social Security faces some long-term challenges, the system is not in crisis.

I think it's very important not to confuse the importance of dealing with Social Security in the long term with these short-term deficit reduction challenges. They're different issues.

I think we'll build a consensus for action on Social Security reform which will reduce that long-term unfunded obligation and put the system on a sustainable basis.

While it is clear that we need to make some adjustments to protect Social Security for the long term, it is disingenuous to say that the trust fund is facing a crisis.

Today there are about 40 million retirees receiving benefits; by the time all the baby boomers have retired, there will be more than 72 million retirees drawing Social Security benefits.