Year 2038 problem
The year 2038 problem (also known as "Unix Millennium bug", "Y2K38," "Y2K+38," or "Y2.038K" by analogy to the Y2K problem) may cause some computer software to fail before or in the year 2038. The problem affects Unix-like operating systems, which represent system time as the number of seconds (ignoring leap seconds) since 00:00:00 January 1, 1970.[1] This representation also affects software written for most other operating systems because of the broad deployment of C. On most 32-bit systems, the time_t data type used to store this second count is a signed 32-bit integer. The latest time that can be represented in this format, following the POSIX standard, is 03:14:07 UTC on Tuesday, January 19, 2038. Times beyond this moment will "wrap around" and be represented internally as a negative number, and cause programs to fail, since they will see these times not as being in 2038 but rather in 1901. Erroneous calculations and decisions may therefore result.
http://en.wikipedia.org/wiki/Year_2038_problem