SS has been running a deficit lately. 2024 -$67B gonna eat into the “surplus” quickly.
There is no surplus to eat into. For the past five years there has been a financial shortfall in Social Security of approximately $200 billion. The government Social Security website tells us that this has been covered with interest that was earned on the $2.7 trillion of U.S. Treasury Notes that represent spent money. I call BS on that. The federal government is almost $38 trillion in debt and running an annual budget deficit of $1.85 trillion. The interest earned on the $2.7 trillion of treasury notes is nothing but a ledger entry. Federal deficit spending has covered the financial shortfall.