"Don't blame it on Social Security" : Social Security and Federal Debt: An Ongoing Debate

Pew Research Center recently observed1 that the U.S. federal debt is a growing concern among the American public, with now more than half of the sampled population considering it a top priority. At this writing, the “debt clock” shows our country’s indebtedness exceeding $38 trillion and steadily climbing.

Most rational thinkers can agree that current levels of federal government spending are unsustainable. So, it becomes inevitable to focus on the “drivers” of federal debt, and that’s where the issue of Social Security’s role in the country’s financial problems comes into focus.

Does Social Security Contribute to Federal Debt?
Social Security’s finances operate through trust funds used to track money entering and exiting the system. The program receives no cash directly; instead, all incoming revenue is automatically converted into special issue Treasury bonds and subsequently credited to the program’s Old-Age and Survivors Insurance (OASI) and Disability Insurance (DI) trust funds. According to former Social Security Chief Actuary Stephen Goss, these bonds are, in effect, “loans made to the general fund on behalf of future beneficiaries.” They represent funds that Treasury would otherwise need to raise for other government programs.

Income (payroll taxes, etc.) increases the trust fund balances, expenses (benefit payments, etc.) decrease them. Any surplus is held in the trust funds as unredeemed bonds. When benefits are paid, the bonds are redeemed to provide the “cash” used to pay benefits.

Read More: https://socialsecurityreport.org/social-security-and-federal-debt-an-ongoing-debate/

I'm saving this article for future reference. Trump and his minions are increasing their attacks on social security and other programs. This is seemingly an attempt to fund their wars. Although RW's have been aiming to eliminate anything that helps lower and middle class Americans for well over a century.