The baby boom from 1946 to 1964 kept the ratio of workers paying Social Security taxes to the number of retirees receiving Social Security benefits at a healthy level for decades. But after birth rates plunged by more than half in the 1970s, the math was plain: Social Security reserves would steadily be depleted when baby boomers started turning 65 in 2011, requiring basic changes to keep the benefits that so many rely on from shrinking.

It is a sad commentary on the increasing superficiality of American politics that the presidents from January 1993 to January 2009--Bill Clinton and........

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