It may come as some surprise to you, but the federal government OWES money to SS.
This was Reagan's grand trick.
The Reagan Administration needed more money to fund all of its increased spending, especially for things like the Star Wars Military Shield. Remember: Reagan increased the debt limit 17 times. He tripled Carter's spending. He invented our modern, outsized deficits by combining massive spending increases with massive tax breaks. (Despite his rhetoric to the contrary, he left a poisonous debt structure in place).
But, so . . . with his increased spending, Reagan needed to find more money ...
So Reagan created the Social Security Trust Fund to enable more government borrowing/spending (which became necessary when his tax cuts to the job shippers failed to produce the needed revenue to pay for his increased spending). The trust fund was an accounting trick that allowed the Government to borrow money against current and future Social Security receipts. Granted, Reagan did increase Social Security Taxes to counterbalance the fact that he raided the fund and put the American people deeply in debt because of it; however, those taxes were repressive and disproportionately levied on poor workers (-remember: the wealthy get more of their money from investments which, wink wink, do not have this particular tax. This was a classic Reagan scam from a presidency that was filled with them. Of course the current generation of Republican voters know nothing of this because they have been drugged with tales of the mythological Reagan, who was invented to give Movement Conservatism a Foundational Leader).
It was ******* hilarious though. Reagan basically put a massive IOU in the place where people's Social Security savings should have existed - which IOU required further government borrowing to fill the gap. It was a classic Reagan debt gimmick . . .criminal financial mismanagement... and you ain't never going to hear about it on FOX News.
Social Security was doing just fine. It was structured to remain solvent until the 2030's when a minor tweak would have kept it alive much longer. This is well known in wonk'ville.
However, Social Security was bankrupted by Reagan's gimmick. The program is now in debt in order to pay for things like Star Wars, which turned out to be a technological impossibility that, wink wink, created some very lucrative weapons contracts for the GOP donor base.
It gets worse. Anyone currently below 50 is in for a big surprise. The Government is going to cut the very Social Security benefits which the poor worker paid for in taxes. ******* brilliant, right? You raise taxes on the poor worker so that he will have Social Security. Then, you take the ******* money that you told him would be for Social Security... and you spend that money on complete bullshit. Then ... [wait for it] . . . you tell the poor worker that his Social Security isn't there because you spent it on blow jobs to your weapons donors.
Oh Ronnie!!!!!
(if your cheerleaders only knew the truth)