The Social Security Trust Fund is a simple thing. It is not a national debt. It is not in financial jeopardy. It’s a program with a $2.7 trillion surplus that has nothing to do with our budget deficit or the debt ceiling. Anyone who tries to link government debt with Social Security is either badly informed or a liar.
That $2.7 trillion surplus? It doesn’t just sit in some vault gathering interest; most of it has been loaned out by making transfers into the general fund, our national checking account that the federal government uses to pay its bills. When those transfers get paid back into the SSI fund along with interest, it’s the interest payments that add to our national debt.