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No, social security still is in surplus (the general budget owes it money because congress borrowed it). A lot of the money that is classified as "federal debut" is owed to social security (which is why we are in a situation where the USA owes a lot of federal debt to the USA).

In 2030 something, it will run out of surplus and become insolvent without actual injections from the general budget or via some other change, like removing the applicable income cap. Then you can say "SS is accounting fiction, I told you so", but in 2023 you can't say that yet.

Because SS and medicare are paid for via specific payroll taxes labelled as such on your paycheck (rather than any other tax levied by the government), the books have always been kept separate.




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