$450 billion pension short fall

"Pension Insurance Agency Reports $22.8 Billion Deficit for 2005" reports that pension funds are $450 billion underfunded. This number doesn't seem to cover all the underfunded govmnt employees and, of course, the biggest underfunded account: Social Security. If they decide to clean all this up, there's going to be a lot of pain among the elderly (and the rest of the tax paying public).