Sorry, Colonial, I defended you earlier, now I have to defend Charles. He is right. Social Security was a separate fund until LBJ needed it to hide his deficit spending on Vietnam and the War on Poverty.. The SS surplus is also why Clinton showed a surplus. It was not real, but just created deferred liability in SS. We are facing that now.
SS is basically a bad deal for everyone except the early retirees. The Boomers may break even on SS, but for later generations, it is a negative return. The design of SS assumed a continuously growing population. The design cannot stand our current demographics. We Boomers and all future generations would be far better off with the concepts Milton Friedman convinced Chile, private accounts.