According to your president, there is no Social Security Trust Fund and Treasury Bonds aren’t worth the paper they are printed on.
It’s what he said today:
Some in our country think that Social Security is a trust fund — in other words, there’s a pile of money being accumulated. That’s just simply not true. The money — payroll taxes going into the Social Security are spent. They’re spent on benefits and they’re spent on government programs. There is no trust.