STYLETHREAD -- LET'S TALK SHOP!

Both of these run in Mr. Elle's family, actually.  Their's is a progressive genetic condition which yours is likely not however, so hopefully once you're fixed up from this it won't happen again. 

The degeneration means that the padding in between the disks in your back are a little thinner than they should be.  I'd clarify if the doc means that this is occuring just near the bulging disks or over the length of your spine.  You might need to adjust your exercise habits in the future to lessen the impact on your spine, maybe with an elliptical instead of a treadmill, swimming, making sure you're not lifting heavy things with a repetitive motion? 

Bulging disks are usually due to inflamation, and when they swell/bulge they press on the surrounding nerves and cause that radiating, sharp pain.  If they are due to inflamation caused by an injury/activity they do normally go away once that injury is healed or the activity is stopped.  But if your body is creating this on it's own, then I'm not sure how it would go away without surgery.  In that case they'd go in a suck out the soft filling in the middle of the disk cushion, to keep it from bulging again in the future.  Leaves you with less shock absorption ability the spot would probably be more ache-prone when you're older, but you won't be in constant pain!

Mr. Elle started having these same problems a couple years ago.  He'd been lifting weights alot and had put on almost 20 lbs because of it.  The combination of the extra weight and repetitive lifting of heavy objects had the disks in his lower back bulging really badly, and his nerves were so irritated he could hardly walk.  Once he stopped lifting the pain gradually went away.  He's reduced the amount and time he lifts weights now, and tries to be careful lifting other heavy-ish things and it's kept him out of trouble since then!