Not exactly.
What they are "borrowing" from is the G fund of the Thrift Savings Plan that covers federal employees under FERS and the military.
The TSP is the equivalent of a 401k that employees have contributed to with a 5% matching by the employer (Fedgov).
The G fund is a close as the TSP comes to having a cash account and is invested in special issue treasury bonds.
This is not the first or the last time that retirement accounts have been raided.
“The G fund is a close as the TSP comes to having a cash account and is invested in special issue treasury bonds.”
Special issue treasury bonds are just another fraudulent accounting scheme. You have been duped into believing that these non marketable TBills have some economic significance. The Social Security Administration has a warehouse full of this fraudulent and worthless paper.
The only possible significance is if Congress prevented Obama from spending beyond the debt limit. Since Congress will lift the debt limit, this transfer is just a non economic event.