Social Security isn’t operating in the red right now. As Reagan said, those who blame Social Security for our federal deficits and debt (here’s looking at you, Mitch McConnell), are lying or ignorant. The Social Security tax, plus interest on Social Security bonds, currently covers the cost of Social Security payouts. Those who want to cut Social Security payouts seek to use the Social Security tax money to pay for their own pet programs, like foreign aid and social services for illegal aliens.