Social Security retirement trust fund may be depleted in 2032, new trustees report finds

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17. What our Government owes Social Security. Most important info

The federal government currently owes the combined Social Security Trust Funds (the Old-Age, Survivors, and Disability Insurance programs) roughly $2.7 trillion. This obligation is held in the form of special-issue, interest-bearing Treasury securities backed by the full faith and credit of the United States.Because Social Security collected more in payroll taxes than it paid out during the surplus years of the 1980s through 2010s, that excess cash was invested into the general fund of the U.S. Treasury and replaced with these Treasury bonds.Since the program's expenditures recently began exceeding its incoming revenue, Social Security has been redeeming these bonds to cover the shortfall. By law, the Treasury is required to pay back the principal and interest to the Social Security Administration as the funds are needed to pay out""