[mrsmith]

I see my confusion- I’m thinking of OSDI. It runs a surplus but the welfare components of SS- DI, HI and SMI- run deficits.
http://www.ssa.gov/oact/trsum/index.html

What bothers me about the “can’t pay SS” argument, besides thw inclusion of the welfare items, is that there are receipts coming in from it- yet that’s never mentioned. Look at this article- no mention of SS receipts- just SS expenditures.

[kabar]

The SS receipts are included in the total $172.9 billion receipts. It is part of the unified budget accounting.

[kabar]

I see my confusion- I’m thinking of OSDI. It runs a surplus.

No, it is running a deficit.

Social Security expenditures exceeded the program’s non-interest income in 2010 for the first time since 1983. The $49 billion deficit last year (excluding interest income) and $46 billion projected deficit in 2011 are in large part due to the weakened economy and to downward income adjustments that correct for excess payroll tax revenue credited to the trust funds in earlier years.