Hello - I Am Wondering If I Need To Have

Hello - I am wondering if I need to have surgery and what exactly does this say. I have been in pain for a while and I had almost the exact same thing in my left knee. I had a partial meniscectomy last year but still fell the pain. It's just not locking my knee like before, which is a great relief in itself. My MRI report says the following:
TECHNIQUE: Multiple T1 and T2-weighted sequences were performed in all three planes.
FINDINGS: There is a linear area of increased signal intensity demonstrated in the posterior and middle thirds of the lateral meniscus, extending to the inferior articular surface, consistent with a tear. The medial meniscus is somewhat extruded laterally, but otherwise appears intact. There are degenerative changes throughout all three compartments of the knee, including thinning and irregularity of the hyaline cartilage. Small osteophyte formation is noted. The cruciate and collateral ligaments appear intact. There is a mild joint effusion present. A few subcutaneous edematous changes are noted anteriorly. Patellofemoral alignment is within normal limits, and the quadriceps tendon and patellar ligament appear unremarkable.
IMPRESSION: Degenerative joint disease and mild joint effusion. Horizontal tears at the posterior and middle thirds of the lateral meniscus.