[WhiteGuy]

It's my understandng that the SS "tax" collected from employees and employers is currently in excess of the amount needed to fund annual expendatures.

The excess goes into the general fund.

If this is incorrect, please explain.

[Puppage]

the SS "tax" collected from employees and employers is currently in excess of the amount needed to fund annual expendatures

Hmm, that may very well be. I am not up on that, however perhaps this is how they're able to buy the bonds,etc.???

[Doctor Stochastic]

Correct. SS is a pay-as-you-go plan with the pretense of holding "accounts" for the users. This is commonly known as a "Ponzi Scheme" in contrast to Medicare which is a chain letter.