“It had to ‘cover benefit payments, forcing the agency to tap its $2.7 trillion trust fund sooner than some had expected.’ But how did it tap this Trust Fund? By selling assets. What assets? IOUs from the Treasury. Where did the Treasury get the money to pay the S.S.A.? From the general fund. Where did the general fund get this money? By borrowing it. Where will the Treasury get the money to pay this interest? From the general fund. Where will the general fund get it? Borrowing. When the agency says ‘shortages of tax revenue,’ it refers to FICA tax revenue. But there is also a shortage of tax revenues in the general fund. That is why there is an annual deficit.”
http://teapartyeconomist.com/2013/07/01/social-secutity-muffling-the-warning-bells/
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