Well, it actually does. That "money" in the SS trust fund is not real money -- it is specially issued government bonds. The SS taxes that were paid, were spent on other things, and SS received those special bonds. The interest on those bonds is paid from your current taxes, and when SS runs a deficit and has to cash in those bonds, the money to cash them in again comes right out of our current taxes.
So, SS is contributing to the current deficit NOW.
The politicians who came up with this scheme knew they would be long dead when their chickens came home to roost.
“Well, it actually does. That “money” in the SS trust fund is not real money — it is specially issued government bonds.”
First, it’s only this year that the Social Security system has had to start dipping into the trust fund. But Ryan, Romney and other Bush Republicans have been lying for years that SS has been contributing to the deficit. This is a lie cooked up by Koch Brothers’ effort to gut Social Security.
Second, the idea that government bonds are somehow illegitimate is strange, since most of us have bonds in our portfolios, and expect to be repaid with the promised interest.
The interest on those bonds is paid from your current taxes
Yes, and so is the interest on the bonds that you buy, and the bonds that foreign governments buy to help finance our deficit.