There is no money in US Treasury bonds. That is merely a promise by the government to collect money from future taxpayers to cover these bonds. Nothing more. An individual participant in the Social Security system has no “Social Security account balance”.
—> That is merely a promise by the government to collect money from future taxpayers to cover these bonds.
It’s even worse.
We create money out of thin air to fund debt to pay the interest…
Technically true. No American has a "balance" at the SS fund, but we do each have pension/annuity accounts for promised monthly payments (as you correctly pointed out).
There is no money in US Treasury bonds.
Well. That's where you're wrong. The SS fund owns trillions of U.S. treasury bonds. A year ago that amount was $2.7 trillion. https://www.pgpf.org/blog/2023/05/the-federal-government-has-borrowed-trillions-but-who-owns-all-that-debt, which is more than Japan and China combined own of U.S. treasuries (same link).