The debt in the trust fund is going to be repaid. However, the magnitude of the trust fund falls far short of what will be needed to pay future obligations. This is due to the lack of an asset growth mechanism which underlies all sustainable pension programs.
We are in complete agreement that the system is unworkable using the current configuration.
“The debt in the trust fund is going to be repaid”
Yes and no. The dollars paying back the debt will be printed with wild abandon, and will therefore be worth far less when repaid. So they will be paid back with 50 cent dollars, or 25 cent dollars, or 10 cent dollars. Technically they will be repaid, yes.
“due to the lack of an asset growth mechanism”
To leftists government is the asset. So as long as there is a dollar out there to be taxed, there is an asset growth mechanism.