But, in particular, I think of one segment, in which (unless my memory fails me) Sheriff Buford T. Justice deems the pursuit of The Bandit (Burt Reynolds) insufficiently important to skip a meal. The sheriff runs into a roadside diner and orders a meatloaf sandwich, which he gobbles down while talking to the man seated next to him, who, unbeknownst to him, is the subject of his pursuit.

The Bandit eggs Sheriff Justice on to describe the ostensibly unlawful exploits of The Bandit. When The Bandit suggests the possible misconduct is insufficiently egregious, the sheriff turns to The Bandit and says, "Son, that's baby [poop] compared to what this guy's done."

The reason that I think of this scene is that for all of the (very valid) recent concern about high gasoline prices, the "credit crunch," the woes on Wall Street, and the resulting bailout bill (which I would have voted against), I think these problems are small potatoes when compared to this nation's main economic problem of the 21st century: our aging population and the coming entitlement spending explosion.

'TRUST' FUND

The year 2008 is of great importance on this issue because the earliest baby boomers are turning 62. Some started drawing on Social Security this year; all others will eventually follow. In 2011, this population cohort will become eligible for Medicare coverage.

Social Security will run a deficit by 2017, when its revenue will fall below the system's expenditures. And Social Security's trust fund means nothing. During all the years when Social Security was running a surplus, it gave money to the federal government's general fund in exchange for federal government bonds. When Social Security needs cash in the future, it will present these bonds to the federal government general fund for cash.