If this is the case, people's incomes and wages will rise fast enough that it will be relatively easy to raise the funds necessary to support the retired people in the year 2030. In this case, future retirees will still get the same types of benefits that the current generation enjoys. Note that the U.S. is not the only country facing a Social Security Budget problem. Most developed countries are trying to deal with the problems of an aging population and funding a public pension system. In fact many countries are aging more quicly than in the U.S. and have more urgent budgetary problems.
Japan is one example.
Impacts on Savings and Work Social Security has been criticized for its potentially negative incentives on private savings and work. Savings may decrease because people realize that Social Security gives them a guaranteed means of support. Therefore, they can consume more today. If saving decreases, then there are fewer funds available for investment. In other words, the economic growth rate in the economy could slow due to slower rates of capital formation and technological advancement.