Pars defect L5

Subject 31 yr male.  MRI shows marginal osteophyte formation mid to lower thoracic spine with degenerative changes thoracic spine, slight concavity at inferior aspect L1, marginal osteophyte formation L1 through L5, pars defect right and left L5.  Decreases signal disc on T2 multiple levels upper, mid and lower thoracic.  Disc bulge C6-C7 mild air in spinal cord. T5-T6 left paracentral disc protrusion with mild narrowing of central spinal canal. T10-T11 right paracentral disc protrusion with mild central canal narrowing and mild narrowing of right and left foremen. The conus medullaris ends at the level of T12.
L1-L2: Mild disc bulge without significant narrowing of spinal canal or neural foramen.
L2-L3: Facet hypertrophy without significant narowowing of the spinal canal or neural foremen.
L3-L4: Facet hypertrophy and ligamentum flavum hypertrophy with minimal disc bulge with very ,mild narrowing of the right and left neural foremen.
L4-L5 Diffuse disc bulge that lateralizes to the right with pacet hypertrophy and ligamentum flavum hypertrophy.  There is mild left neural formainal narrowing and mild-moderate right neural foraminal narrowing.
L5-S1: Facet hypertropy and ligamentum flavum hypertropy with mild disc bulge with mild-moderate in the right and left neural foramen.

How disabling is this?  What is possible prognosis?