That never happened. It has always been money in and money out. The system is insolvent now because the system is cash negative. The so-called trust fund is a fraud. All it is is a promise to tax borrow or print more money to keep SS and Medicare recipients happy. The trust fund has no real assets.
I agree with what you said but I do have one question; before Congress decided to include the payroll taxes as part of the “General Fund”, where did those receipts go?