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View submission: Elon Musk can’t balance the budget
Social security doesn't hold their money in cash. They use it to buy US treasury bonds which is the "borrowing".
It actually has a legally distinct pile of money that is running out because they pay out more than they take in. It's projected in 2035 that they run out which means they can only pay out as much as they get in new contributions. That doesn't cover the amount they pay out. So they start paying out people 83% of what they're owed which continues to decrease as an aging population asks for more money and the ratio of working Americans to retired decreases.
Anyway what will actually happen in 2035 is congress is just going to pass a bill that says social security can borrow money from the us treasury and it's just going to run at a loss.
There's nothing here!